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The Tax Publishers Companies Act, 2013--Mediation and Conciliation Provisions of Mediation and Conciliation under Section 442 of Companies Act, 2013--Rules Framed by Government in that Regard S.S. Agrawal Section 442 of the Companies Act, 2013, specifies that Central Government shall maintain a panel of experts to be called Mediation and Conciliation Panel for mediation/conciliation between parties during the pendency of any proceedings before Central Government or any Tribunal or Appellate Tribunal under this Act and prescribe details thereof. The Act makes provision that during the pendency of any dispute before Central Government or the Tribunal or Appellate Tribunal, any of the parties to such proceedings may apply to the concerned authority in specified manner to refer concerned matter to Mediation and Conciliation Panel, who shall appoint one or more expert from the panel so maintained. Such reference by Central Government or Tribunal or Appellate Tribunal is, thus, mandatory. The concerned authority may also make such reference suo motu also i.e. without the application of the litigants. It has also been provided in the Act that any party aggrieved by recommendation of Mediation and Conciliation Panel may file application to Central Government, Tribunal, Appellant Tribunal, as the case may be. Central Government has been empowered under section 422 and 469 of the Act to make rules for carrying out the provisions of this Act. Any contravention of the provisions of Companies Act or Rules framed therein is punishable with fine. 1. Rules framed under the Act regarding Mediation and Conciliation (i) Panel of Mediators and Conciliators Regional Directors (RD), appointed under the provisions of the Act, is required to prepare a panel of experts, who are willing and eligible to be appointed as mediator or conciliator and possess required qualification stated in rule 4 and not having disqualification specified under rule 5. For that purpose, RD is required to invite applications. After scrutiny of applications if he is inclined to reject any such application, he is to record reasons thereof. Name of other applicants are to be placed on website of Ministry of Corporation Affairs. For current years, application would be invited within 60 days from date of publication of rules and panel for current year would be prepared within a period of 30 days thereafter. Thereafter, every year RD is required to update the list, containing name of experts every year, which would be effective from 1st April of that year. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Companies Act, 2013--Mediation and Conciliation

Provisions of Mediation and Conciliation under Section 442 of Companies Act, 2013--Rules Framed by Government in that Regard

S.S. Agrawal

Section 442 of the Companies Act, 2013, specifies that Central Government shall maintain a panel of experts to be called Mediation and Conciliation Panel for mediation/conciliation between parties during the pendency of any proceedings before Central Government or any Tribunal or Appellate Tribunal under this Act and prescribe details thereof. The Act makes provision that during the pendency of any dispute before Central Government or the Tribunal or Appellate Tribunal, any of the parties to such proceedings may apply to the concerned authority in specified manner to refer concerned matter to Mediation and Conciliation Panel, who shall appoint one or more expert from the panel so maintained. Such reference by Central Government or Tribunal or Appellate Tribunal is, thus, mandatory. The concerned authority may also make such reference suo motu also i.e. without the application of the litigants. It has also been provided in the Act that any party aggrieved by recommendation of Mediation and Conciliation Panel may file application to Central Government, Tribunal, Appellant Tribunal, as the case may be. Central Government has been empowered under section 422 and 469 of the Act to make rules for carrying out the provisions of this Act. Any contravention of the provisions of Companies Act or Rules framed therein is punishable with fine.

1. Rules framed under the Act regarding Mediation and Conciliation

(i) Panel of Mediators and Conciliators

Regional Directors (RD), appointed under the provisions of the Act, is required to prepare a panel of experts, who are willing and eligible to be appointed as mediator or conciliator and possess required qualification stated in rule 4 and not having disqualification specified under rule 5. For that purpose, RD is required to invite applications. After scrutiny of applications if he is inclined to reject any such application, he is to record reasons thereof. Name of other applicants are to be placed on website of Ministry of Corporation Affairs. For current years, application would be invited within 60 days from date of publication of rules and panel for current year would be prepared within a period of 30 days thereafter. Thereafter, every year RD is required to update the list, containing name of experts every year, which would be effective from 1st April of that year.