MCA
MCA has enforced certain provisions of Companies Act, 2013 w.e.f 9th September, 2016. Section 227 (Legal advisers and bankers not to disclose certain information), Clause (b) of sub section (1) of Section 242 (Powers of tribunal w.r.t winding up), Clauses (c) and (g) of sub section (2) of Section 242 (Powers of tribunal w.r.t purchase of shares and setting aside of transfer, delivery, etc of property), Section 246 (Applications of certain provisions to proceedings under Section 241 or 245) and Sections 337 to 341 (to the extent of their applicability for Section 246).
MCA
MCA has notified Companies (Mediation and Conciliation) Rules, 2016. They shall come into force on the date of their publication in the official gazette. Under Section 442 of the Companies Act, 2013, the Central Government is authorized to maintain a panel of experts to be called as the Mediation and Conciliation Panel for mediation between the parties during the pendency of any proceedings before the Central Government/Tribunal/Appellate Tribunal under this Act. The Rules provide that the panel shall be prepared by the Regional Directors and placed on the website/portal of MCA. A CA and CS in practice and legal practioner are also eligible to be appointed as mediator or conciliator under the said rules.
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