According to Section 408 of the Companies Act, 2013, the NCLT shall co…

Question

According to Section 408 of the Companies Act, 2013, the NCLT shall consist of:

Accepted Answer

A. {'text': 'A President and such number of Judicial and Technical members as the Central Government may deem necessary', 'label': 'A'}

1. Section 408 of the Companies Act, 2013, as reproduced in Lesson 12, provides that the Central Government shall, by notification, constitute the NCLT.
2. The Tribunal shall consist of a **President** and such number of **Judicial and Technical members** as the Central Government may deem necessary.
3. The mix of judicial and technical members is what gives NCLT its quasi-judicial expert character.
4. Bar against retired judges is not in the section; the section is inclusive.
_Source: ICSI CS Executive Paper 1 — Jurisprudence, Interpretation & General Laws, Lesson 12 (Special Courts, Tribunal under Companies Act and other Legislations), pp. 273-283._

Answer

{'text': 'A President and only Judicial Members; no Technical Members can be appointed to the National Company Law Tribunal under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'B'}

Answer

{'text': 'Only retired Judges of the Supreme Court of India and no other person of any description under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'C'}

Answer

{'text': 'Only retired Judges of the High Courts and no other person of any description under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'D'}