2018 (12) TMI 1548

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the petition was listed before this Tribunal on 09.08.2018, and certain interim directions were also given by this Tribunal. Subsequently, this matter was posted on 31.08.2018, 14.09.2018, 04.10.2018 and 25.10.2018 as well as on 01.11.2018. During the course of the proceedings pending it was brought to the notice of this Tribunal that an application in IA No. 19/JPR/2018 has been filed under Section 442 of the Companies Act, 2013 seeking for referring the Company Petition to the Mediation and Conciliation Panel. Since the company is a closely held company, a query was raised by this Tribunal as to whether there was any scope for settlement as between the parties through mediation and if the parties are agreeable to have the matter referred....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he parties during the pendency of any proceedings before the Central Government or the Tribunal or the Appellate Tribunal under this Act. (2) Any of the parties to the proceedings may, at any time during the proceedings before the Central Government or the Tribunal or the Appellate Tribunal, apply to the Central Government or the Tribunal or the Appellate Tribunal, as the case may be, in such form along with such fees as may be prescribed, for referring the matter pertaining to such proceedings to the Mediation and Conciliation Panel and the Central Government or Tribunal or the Appellate Tribunal, as the case may be, shall appoint one or more experts from the panel referred to in sub-section(l). (3) The Central Government....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ade effective on and from 1.04.2014 and the Central Government has also framed the rule 6 titled as The Companies (Mediation and Conciliation) Rules, 2016. 4. Further, Central Government has also notified a Mediation and Conciliation Panel as displayed in the website maintained by Ministry of Corporate Affairs. In the present instance as already stated, even though the parties are in consensus for mediation but has failed to reach the consensus in relation to the mediator to whom the matter can be referred to for mediation. Taking into consideration the provisions of Section 442 of Companies Act, 2013 as well as the Rules as referred to above and the Mediation and Conciliation Panel as notified by the Central Government, the following tw....