Sunday, August 14, 2016

Section 413 of Companies Act 2013

Section 413 of Companies Act 2013 :-

Term of office of President, chairperson and other Members.

1.     The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.
2.     A Member of the Tribunal shall hold office as such until he attains,—
a.     in the case of the President, the age of sixty-seven years;

b.    in the case of any other Member, the age of sixty-five years:

Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:

Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year.

3.     The chairperson or a Member of the Appellate Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re-appointment for another term of five years.
4.     A Member of the Appellate Tribunal shall hold office as such until he attains,—
a.     in the case of the Chairperson, the age of seventy years;

b.    in the case of any other Member, the age of sixty-seven years:

Provided that a person who has not completed fifty years of age shall not be eligible for appointment as Member:

Provided further that the Member may retain his lien with his parent cadre or Ministry or Department, as the case may be, while holding office as such for a period not exceeding one year.

India's Important Case Laws and Landmark Judgments on Companies Act 2013.

Section 413 Companies Act 1956 has been repealed.

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