Ministry of Corporate Affairs issues Companies Meditation and Conciliation Rules, 2016 notification dated 9th September 2016 effective from 9th September 2016.
As per Section 442 of Companies Act, 2013 Central Government need to maintain a panel of experts to be called as the Mediation and Conciliation Panel. It is for mediation between the parties to the pendency of any proceedings before the Central Govt./Tribunal/Appellate Tribunal. Mediation can be applied by any of the parties to the proceedings by application in prescribed form and on payment of prescribed fees.
Now government changed some rules by using the powers metioned under section 469 of companies act,2013.