Section 435 of the Companies Act, 2013: Establishment of Special Courts

The Companies Act, 2013

Chapter– XXVIII Special Courts

Section 435: Establishment of Special Courts.

*1[435. (1) The Central Government may, for the purpose of providing speedy trial of 2[offences under this Act, except under section 452, by notification], establish or designate as many Special Courts as may be necessary.

(2) A Special Court shall consist of—

(a) a single judge holding office as Session Judge or Additional Session Judge, in case of offences punishable under this Act with imprisonment of two years or more; and

(b) a Metropolitan Magistrate or a Judicial Magistrate of the First Class, in the case of other offences,

who shall be appointed by the Central Government with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be appointed is working.]


Reference

*Effective from 18.05.2016.

1. Substituted by the Companies (Amendment) Act, 2017, w.e.f. 07.05.2018[S.O. 1833(E) dated 07.05.2018], for the Section:

“435. (1) The Central Government may, for the purpose of providing speedy 1*[trial of offences punishable under this Act with imprisonment of two years or more], by notification, establish or designate as many Special Courts as may be necessary.

2*[Provided that all other offences shall be tried, as the case may be, by a Metropolitan Magistrate or a Judicial Magistrate of the First Class having jurisdiction to try any offence under this Act or under any previous company law.]

(2) A Special Court shall consist of a single judge who shall be appointed by the Central Government with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be appointed is working.

(3) A person shall not be qualified for appointment as a judge of a Special Court unless he is, immediately before such appointment, holding office of a Sessions Judge or an Additional Sessions Judge.”

Reference:

1*. Substituted by the Companies (Amendment) Act, 2015, w.e.f. 29.05.2015[S.O. 1440(E) dated 29.05.2015], for the words “trial of offences under this Act”.

2*. Inserted by the Companies (Amendment) Act, 2015, w.e.f. 29.05.2015[S.O. 1440(E) dated 29.05.2015].

 

2. Substituted by the Companies (Amendment) Act, 2020, w.e.f. 22.01.2021[S.O. 325(E) dated 22.01.2021], for the words “offences under this Act, by notification“.

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