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<h1>Company Law Board to Dissolve; Members Transition to New Tribunals Under Companies Act, 1956. No Compensation for Unqualified Staff.</h1> The Company Law Board, established under the Companies Act, 1956, will be dissolved upon the formation of the Tribunal and Appellate Tribunal. Until these bodies are constituted, qualified members of the Company Law Board will continue in similar roles within the new tribunals. Employees on deputation will either transition to the new tribunals or return to their original departments. Regular employees will retain their rights and benefits unless their terms are altered. No compensation claims for employment changes will be entertained. Funds established for employee benefits will transfer to the new tribunals. Unqualified personnel will vacate their positions without compensation.