CS Executive · Corporate Accounting and Financial Management · Introduction to Corporate Accounting
A person aggrieved by an NFRA order imposing a penalty or debarment under section 132(4)(c) may prefer an appeal before which body?
The appeal lies before the Appellate Tribunal, in the prescribed manner and on payment of the prescribed fee. The earlier Appellate Authority was substituted and its sub-sections omitted, while the CAG and Registrar have no appellate role over NFRA orders.
- AThe Appellate TribunalCorrect
- BThe Comptroller and Auditor-General of India
- CThe Registrar of Companies
- DThe Central Government's Appellate Authority under sub-section (6)
Explanation
Section 132(5) provides that an appeal lies before the Appellate Tribunal in the prescribed manner and on payment of the prescribed fee. The earlier Appellate Authority was replaced, and sub-sections (6) to (9) were omitted.
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