Under the default rule in Section 419 of the Companies Act, 2013, the …

Question

Under the default rule in Section 419 of the Companies Act, 2013, the powers of the NCLT shall be exercisable by Benches consisting of:

Accepted Answer

C. {'text': 'Two members, one of whom shall be a Judicial Member and the other shall be a Technical Member', 'label': 'C'}

1. The "Benches of NCLT" table in Lesson 12 sets out the bench-composition rule.
2. The default: "The powers of the Tribunal shall be exercisable by **Benches consisting of two Members** out of whom one shall be a **Judicial Member** and the other shall be a **Technical Member**."
3. The proviso permits single-Judicial-Member benches in such matters or classes of cases as the President may, by general or special order, specify.
4. The 2-member judicial+technical mix preserves the hybrid character of the Tribunal.
_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': 'Five members, all of whom shall be Judicial Members of the Tribunal under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'A'}

Answer

{'text': 'Three members, all of whom shall be Technical Members of the 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': 'Seven members, all of whom shall be retired judges of the High Courts under any provision of any law in force in any State of India regardless of any other consideration of any kind', 'label': 'D'}