Qualification of President and Members of Tribunal

is, or has been, a judge of a High Court; or

is, or has been, a District Judge for at least five years; or

has, for at least ten years been an advocate of a court.

has, for at least fifteen years been a member of the Indian Corporate Law Service or Indian Legal Service out of which at least three years shall be in the pay scale of Joint Secretary to the Government of India or equivalent or above in that service and has been holding the rank of Secretary or Additional Secretary to the Government of India ; or

is, or has been, in practice as a chartered accountantchartered accountant for at least fifteen years; or

is, or has been, in practice as a cost accountantcost accountant for at least fifteen years; or

is, or has been, in practice as a company secretary for at least fifteen years; or

is a person of proven ability, integrity and standing having special knowledge and professional experience of not less than fifteen years in industrial finance, industrial management, industrial reconstruction, investment and accountancy.

is a person of proven ability, integrity and standing having special knowledge and experience, of not less than fifteen years, in law, industrial finance, industrial management or administration, industrial reconstruction, investment, accountancy, labour matters, or such other disciplines related to management, conduct of affairs, revival, rehabilitation and winding up of companies; or

is, or has been, for at least five years, a presiding officer of a Labour Court, Tribunal or National Tribunal constituted under the Industrial Disputes Act, 1947.