Transitional jurisdiction for company law bodies: existing administrative Board will exercise tribunal functions until the new tribunal is constituted. Pending constitution of the National Company Law Tribunal, the Order provides that the Board of Company Law Administration, established under the prior company law, shall exercise the jurisdiction, powers, authority and functions specified for the transitional period in the first proviso to clause (41) of the Companies Act, thereby temporarily vesting tribunal-like responsibilities in the existing administrative Board to ensure continuity of regulatory and adjudicatory functions.
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Transitional jurisdiction for company law bodies: existing administrative Board will exercise tribunal functions until the new tribunal is constituted.
Pending constitution of the National Company Law Tribunal, the Order provides that the Board of Company Law Administration, established under the prior company law, shall exercise the jurisdiction, powers, authority and functions specified for the transitional period in the first proviso to clause (41) of the Companies Act, thereby temporarily vesting tribunal-like responsibilities in the existing administrative Board to ensure continuity of regulatory and adjudicatory functions.
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