The Ministry of Corporate Affairs (MCA) on Thursday notified the establishment of a Special Court for trying offences under the Companies Act, 2013.
The special court, Court of Sub-Divisional Judicial Magistrate at Ranchi is designated for speedy trial of offences punishable with imprisonment of two years or more under the Companies Act in the State of Jharkhand.
The provisions dealing with ‘Special Courts’ came into effect from 18 May 2016 with a view to providing speedy disposal of offences punishable under the Companies Act, 2013, which are punishable with imprisonment of 2 years or more. The purpose behind setting up these courts is to let magistrate courts try minor violations, and that graver offence should be dealt with by Special Courts.
Section 435 of the Companies Act, 2013 deals with the establishment of ‘Special Courts’ which says that The Central Government may, for the purpose of providing speedy trial of 2[offences under this Act, except under section 452], establish or designate as many Special Courts as may be necessary. A Special Court shall consist of a single judge holding office as Session Judge or Additional Session Judge, in case of offences punishable under this Act with imprisonment of two years or more; and a Metropolitan Magistrate or a Judicial Magistrate of the First Class, in the case of other offences, 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.]
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