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QUALIFICATION OF PRESIDENT AND MEMBERS [SECTION 409]
The President shall be a person who is or has been a Judge of a high Court for five years.
Judicial Member:
A judicial member shall be person, who –
(a) is or has been a judge of a High Court; or
(b) is or has been a District Judge for at least five years; or
(c) has for at least ten years as an advocate of a court or held a judicial office or as member of a tribunal.
Technical Member:
A Technical member shall be a person who –
(a) 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 as Joint Secretary or above; or
(b) is or has been in practice as a chartered accountant for at least fifteen years; or
(c) is or has been in practice as a cost accountant for at least fifteen years; or
(d) is or has been in practice as a company secretary for at least fifteen years; or
(e) 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
(f) 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.
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