SPECIAL COURTS ESTABLISHED UNDER SECTION 435 OF THE COMPANIES ACT, 2013

The Central Government vide its notification dated 18.05.2016 designated the Special Courts for the purposes of trial of offences punishable under the Companies Act, 2013 with imprisonment of two years or more in terms of section 435 of the Companies Act, 2013.

Section 435: SPECIAL COURTS

(1) The Central Government may, for the purpose of providing speedy ¹[trial of offences punishable under this Act with imprisonment of two years or more], by notification, establish or designate as many Special Courts as may be necessary.²[Provided that all other offences shall be tried, as the case may be, by a Metropolitan Magistrate or a Judicial Magistrate of the First Class having jurisdiction to try any offence under this Act or under any previous company law.]

(2) A Special Court shall consist of a single judge who shall be appointed by the Central Government with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be appointed is working.

(3) A person shall not be qualified for appointment as a judge of a Special Court unless he is, immediately before such appointment, holding office of a Sessions Judge or an Additional Sessions Judge. 

1. substituted by the Companies (Amendment) Act, 2015
2. inserted by the Companies (Amendment) Act, 2015