Mr P was appointed as a President of NCLT when he was 64 years of age During his tenure of 5 years h...........

Companies Act-Phase (I & II) NCLT & NCLAT

Mr. P was appointed as a President of NCLT when he was 64 years of age. During his tenure of 5 years, he attains the age of 67 years. As per the Provisions, a president of the tribunal shall hold office for a period of years and can be reappointed for a period of 5 years, as such until he attains 67 years. What action is to be taken?

Continue till the tenure ends

Vacate the office

Retirement

None of the above

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Explanation:

According to section 409 of Companies Act, 2013 the President shall be a person who is or has been a Judge of a High Court for five years. The President and every other Member of the Tribunal shall hold office as such for a term of five years from the date on which he enters upon his office, but shall be eligible for re – appointment for another term of five years. The president of the NCLT shall hold office until he attains the age of sixty-seven years. A person who has not completed fifty years of age shall not be eligible for appointment as Member. So he vacate the office.