Empanelment of professionals for at least fifteen years of continuous practice as a CA with MCA as Mediator or Conciliator

Empanelment of professionals for at least fifteen years of continuous practice as a CA with MCA as Mediator or Conciliator

Sub:   Regarding Empanelment of professionals for at least fifteen years of continuous practice as a Chartered Accountant with MCA as Mediator or Conciliator.

As you may be aware that Section 442 of the Companies Act, 2013 provides that 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.

In this regard, I would like to inform you that the Ministry of Corporate Affairs has issued Companies (Mediation and Conciliation) Rules, 2016 recently, wherein as per Rule 4 the qualification and experience of the experts who can act as a mediator and conciliator has been provided.

As per Rule 4(g) of the said Rules, it has been provided that a person shall not be qualified for being empanelled as mediator or conciliator unless he is or has been a professional for at least fifteen years of continuous practice as Chartered Accountant, i.e., he is eligible to empanel himself as a mediator or conciliator, if he has been a professional for at least fifteen years of continuous practice as a Chartered Accountant.

Further, the Regional Director of Northern Region, Ministry of Corporate Affairs (MCA), Government of India has invited applications for empanelment of Mediators/ Conciliators in pursuant to Rule 3(3) read with Rule 3(5) of the Companies (Mediators and Conciliators) Rules, 2016.

In this regard, we request the members who are eligible and willing to become mediator and conciliator and empanel themselves with MCA as per aforesaid Notice, may send their application in the prescribed form given in the Companies (Mediation and Conciliation) Rules, 2016) along with relevant documents to Regional Director Northern Region either physically at their address on the working days or through e-mail.

The application can be sent through Email at rd.north@mca.gov.in; or physically to Sh. N. K. Bhola, B-2 Wing, 2nd Floor, Paryavaran Bhawan, CGO Complex, New Delhi – 110003. The last date and time for receipt of applications is 8th November, 2016 by 4:00 pm.

The notice is available at the link given below-http://www.mca.gov.in/Ministry/pdf/noticeforempanellingexpertsNR_04102016.pdf

The Companies (Mediation and Conciliation) Rules, 2016 as issued by MCA recently are available at –http://www.mca.gov.in/Ministry/pdf/CompaniesMediationandConciliationRules_10092016.pdf

With Regards
Corporate Laws & Corporate Governance Committee of ICAI

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