Company law Section 435-Establishment of Special Courts

(1) The Central Government may, for the purpose of providing speedy trial of 2 [offences under this Act, except under section 452, by notification] establish or designate as many Special Courts as may be necessary. 

(2) A Special Court shall consist of— 

(a) a single judge holding office as Session Judge or Additional Session Judge, in case of offences punishable under this Act with imprisonment of two years or more; and 

(b) a Metropolitan Magistrate or a Judicial Magistrate of the First Class, in the case of other offences, who shall be appointed by the Central Government with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be appointed is working.