Section 442: Mediation and Conciliation Panel
This section is for setting up a Mediation and Conciliation Panel to help resolve disputes during company law proceedings.
The section, clause by clause
What the section says
In plain terms
(1)The Central Government shall maintain a panel of experts to be called as the Mediation and Conciliation Panel consisting of such number of experts having such qualifications as may be prescribed for mediation between the parties during the pendency of any proceedings before the Central Government or the Tribunal or the Appellate Tribunal under this Act.
The Central Government will have a panel of experts called the Mediation and Conciliation Panel to help resolve disputes during proceedings under this Act, consisting of a prescribed number of experts with prescribed qualifications.
(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 the Tribunal or the Appellate Tribunal, as the case may be, shall appoint one or more experts from the panel referred to in sub-section (1).
Parties to proceedings can apply to the Central Government or the Tribunal or the Appellate Tribunal for mediation by the panel, using a prescribed form and paying a prescribed fee, and an expert will be appointed from the panel.
(3)The Central Government or the Tribunal or the Appellate Tribunal before which any proceeding is pending may, suo motu, refer any matter pertaining to such proceeding to such number of experts from the Mediation and Conciliation Panel as the Central Government or the Tribunal or the Appellate Tribunal, as the case may be, deems fit.
The Central Government or the Tribunal or the Appellate Tribunal can also refer a matter to the Mediation and Conciliation Panel on its own initiative, choosing as many experts as it thinks fit.
(4)The fee and other terms and conditions of experts of the Mediation and Conciliation Panel shall be such as may be prescribed.
The experts on the Mediation and Conciliation Panel will be paid a prescribed fee and work under prescribed terms and conditions.
(5)The Mediation and Conciliation Panel shall follow such procedure as may be prescribed and dispose of the matter referred to it within a period of three months from the date of such reference and forward its recommendations to the Central Government or the Tribunal or the Appellate Tribunal, as the case may be.
The Mediation and Conciliation Panel will follow a prescribed procedure, make a decision within 3 months, and send its recommendations to the Central Government or the Tribunal or the Appellate Tribunal.
(6)Any party aggreived by the recommendation of the Mediation and Conciliation Panel may file objections to the Central Government or the Tribunal or the Appellate Tribunal, as the case may be.
If a party disagrees with the panel's recommendation, they can file objections with the Central Government or the Tribunal or the Appellate Tribunal.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Ins. by Act 1 of 2018, s. 91 (w.e.f. 9-2-2018).
- 2. Subs. by Act 29 of 2020, s. 62, for section 446B (w.e.f. 22-1-2021).
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.