Act Number: 4

Act Name: The Insurance Act, 1938

Year: 1938

Enactment Date: 1938-02-26

Long Title: An Act to consolidate and amend the law relating to the business of insurance.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 61A: Appeal to National Company Law Appellate Tribunal.
    1[61A. Appeal to National Company Law Appellate Tribunal. -- (1) Any person aggrieved by an order or decision of the Tribunal may prefer an appeal to the National Company Law Appellate Tribunal.
     (2) No appeal shall lie to the National Company Law Appellate Tribunal from an order made by the Tribunal with the consent of parties.
     (3) Every appeal under sub-section (1) shall be filed within a period of forty-five days from the date on which a copy of the order or decision made by the Tribunal is received by the appellant and it shall be in such from and accompanied by such fee as may be prescribed.
     Provided that the National Company Law Appellate Tribunal may entertain an appeal after the expiry of said period of forty-five days if it is satisfied that there was sufficient cause for not filing it within that period.
     (4) On receipt of an appeal under sub-section (1), the National Company Law Appellate Tribunal shall, after giving parties to the appeal, an opportunity of being heard, pass such orders thereon as it thinks fit, confirming, modifying or setting aside the order appealed against.
     (5) The National Company Law Appellate Tribunal shall send a copy of every order made by it to the Tribunal and parties to the appeal.
     (6) The appeal filed before the National Company Law Appellate Tribunal under sub-section (1) shall be dealt with by it as expeditiously as possible and endeavour shall be made by it to dispose of the appeal finally within six months from the date of the receipt of the appeal.
Notes:
1. Ins. by Act 11 of 2003, s. 133 and the schedule (w.e.f. 1-4-2003).
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