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of <h1>Transition of Company Law Board to Tribunals Under Section 466: Roles, Transfers, and Employee Benefits Explained</h1> Section 466 of the Companies Act, 2013, addresses the dissolution of the Company Law Board upon the establishment of the Tribunal and Appellate Tribunal. Until these are constituted, qualified members of the Company Law Board will serve in equivalent roles in the new tribunals. Employees on deputation will either join the tribunals if qualified or return to their original positions. Regular employees will transfer with their existing benefits. No compensation claims will be entertained for these transitions. Funds associated with employee benefits will transfer to the tribunals. Those not transitioning will vacate their positions without compensation.
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