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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Legislative Framework of Corporate Governance in India

Which of the following correctly describes the composition of the Selection Committee that recommends Members of the Tribunal under the Companies Act, 2013?

The committee has the Chief Justice of India or his nominee as Chairperson, a senior Supreme Court Judge or a High Court Chief Justice, the Secretary in the Ministry of Corporate Affairs, and the Secretary in the Ministry of Law and Justice. The MCA Secretary serves as Convener.

  1. AChief Justice of India or nominee (Chairperson), a senior Supreme Court Judge or High Court Chief Justice, Secretary MCA, Secretary Ministry of Law and JusticeCorrect
  2. BChief Justice of India (Chairperson), Chairperson of SEBI, Secretary MCA, Secretary Ministry of Finance
  3. CSecretary MCA (Chairperson), Chairperson of NCLAT, Secretary Ministry of Law and Justice, Governor of RBI
  4. DChairperson of NCLAT (Chairperson), President of NCLT, Secretary MCA, Attorney General of India

Explanation

Section 412(2) lists four members: the Chief Justice of India or his nominee as Chairperson, a senior Supreme Court Judge or High Court Chief Justice, the Secretary in the MCA, and the Secretary in the Ministry of Law and Justice. The MCA Secretary is the Convener, not the Chairperson.

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