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CMA Final · Corporate Financial Reporting · Absorptions, Amalgamations, External Reconstruction

Under Section 409 of the Companies Act, 2013, which of the following persons is qualified for appointment as a Technical Member of the Tribunal?

A person who is or has been in practice as a cost accountant for at least fifteen years qualifies as a Technical Member under Section 409(3). The advocate and District Judge routes are Judicial Member qualifications, and the High Court judge route relates to the President.

  1. AA person who is or has been in practice as a cost accountant for at least fifteen yearsCorrect
  2. BA person who has been an advocate of a court for ten years
  3. CA person who has been a District Judge for five years
  4. DA person who is or has been a Judge of a High Court for five years only

Explanation

Section 409(3)(c) qualifies a person who is or has been in practice as a cost accountant for at least fifteen years as a Technical Member. Ten years as an advocate and five years as a District Judge are Judicial Member qualifications under 409(2). The High Court judge for five years relates to the President under 409(1).

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