Removal of managerial personnel: Central government can order removal based on Tribunal decision, bars reappointment for five years. Central Government may, by order, remove any director or person concerned in a company's conduct and management based on a decision of the Tribunal. The removed person is disqualified from holding such office for five years unless earlier permitted with the Tribunal's concurrence, is not entitled to compensation for loss of office, and the company may appoint a replacement only with prior Central Government approval.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Removal of managerial personnel: Central government can order removal based on Tribunal decision, bars reappointment for five years.
Central Government may, by order, remove any director or person concerned in a company's conduct and management based on a decision of the Tribunal. The removed person is disqualified from holding such office for five years unless earlier permitted with the Tribunal's concurrence, is not entitled to compensation for loss of office, and the company may appoint a replacement only with prior Central Government approval.
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