Section 266 of the Companies Act, 2013
Section 266 of the Companies Act, 2013 – Special Courts
Purpose:
Section 266 empowers the Central Government to establish Special Courts for the speedy trial of offenses under the Companies Act, 2013.
Key Provisions:
Establishment of Special Courts:
The Central Government may, by notification, appoint one or more Special Courts for the trial of offenses under the Companies Act.
Jurisdiction:
These Special Courts have jurisdiction to try only the offenses punishable under the Companies Act.
The jurisdiction may be limited to a particular area or to specific types of offenses.
Trial Procedure:
Trials in these courts shall be conducted as per the provisions of the Code of Criminal Procedure, 1973, but with an emphasis on speedy trial.
The Special Courts ensure that the cases involving company law violations are dealt with efficiently.
Objective:
To reduce the burden on regular criminal courts.
To ensure expertise and specialization in handling company law cases.
To promote quick justice for stakeholders affected by company law offenses.
Example:
If a company director is accused of fraud or misrepresentation under the Companies Act, the case will be tried in the Special Court established under Section 266 for faster and specialized handling.
RELATED Blog
0 comments