Section 468 of the Companies Act, 2013
📘 Section 468 – Power of Central Government to Make Rules for Tribunals
Companies Act, 2013
🔍 Provision Summary:
Section 468 empowers the Central Government to make rules for the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), especially in relation to their procedure and functioning.
⚖️ Key Provisions:
Rule-making Authority:
The Central Government may make rules consistent with the provisions of the Act.
These rules are specifically to regulate matters before NCLT and NCLAT, such as:
Procedure of filing applications or appeals
Format of orders
Hearings and service of notices
Other procedural and administrative aspects
Consultation Requirement:
The rules can be made after consulting the President of the Tribunal and President of the Appellate Tribunal.
Publication:
Rules made under this section must be notified in the Official Gazette.
🧾 Legal Text (Simplified):
The Central Government may, by notification, make rules to regulate the procedure and functioning of the Tribunal (NCLT) and the Appellate Tribunal (NCLAT), in consultation with their respective Presidents.
🧠 Objective:
To provide flexibility in managing tribunal-related procedures.
To ensure that the tribunals operate smoothly and in accordance with a formal procedural framework.
🧾 Example:
Rules such as the National Company Law Tribunal Rules, 2016 and the National Company Law Appellate Tribunal Rules, 2016 were framed under this section.
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