CSEET · Business Laws and Management · Elements of Company Law
Consider these statements. (I) The Tribunal exercises powers and functions conferred on it by the Companies Act, 2013 or by any other law for the time being in force. (II) Members of the Tribunal are appointed by the Central Government by notification. Which is correct?
Both statements are correct. Section 408 provides that the Central Government appoints the Tribunal's members by notification, and that the Tribunal exercises powers and functions conferred by the Companies Act or by any other law for the time being in force.
- AOnly I is correct
- BOnly II is correct
- CBoth I and II are correctCorrect
- DNeither I nor II is correct
Explanation
Section 408 says members are appointed by the Central Government by notification and the Tribunal exercises powers conferred by this Act or any other law for the time being in force. Both statements therefore match the section.
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