Company Law Board dissolves on tribunal creation; qualifying staff transfer with preserved benefits while funds vest in the new tribunals. Section dissolves the Company Law Board on constitution of the Tribunal and Appellate Tribunal, directs that qualifying Board office-holders function in equivalent Tribunal offices until constitution, provides that deputation officers who meet statutory requirements transfer to the Tribunal while others revert to parent cadres, preserves pension and gratuity rights of regular Board employees who become Tribunal employees, bars compensation claims for transferred officers under this Act or other laws, and vests monies attributable to transferred staff in existing provident, superannuation and welfare funds in the Tribunal to be dealt with as prescribed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Company Law Board dissolves on tribunal creation; qualifying staff transfer with preserved benefits while funds vest in the new tribunals.
Section dissolves the Company Law Board on constitution of the Tribunal and Appellate Tribunal, directs that qualifying Board office-holders function in equivalent Tribunal offices until constitution, provides that deputation officers who meet statutory requirements transfer to the Tribunal while others revert to parent cadres, preserves pension and gratuity rights of regular Board employees who become Tribunal employees, bars compensation claims for transferred officers under this Act or other laws, and vests monies attributable to transferred staff in existing provident, superannuation and welfare funds in the Tribunal to be dealt with as prescribed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
