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of <h1>Company Members Can Apply Under Sections 397 or 398 of Companies Act, 1956 for Relief with Specific Criteria</h1> Members of a company can apply under sections 397 or 398 of the Companies Act, 1956, if they meet specific criteria. For companies with share capital, the application can be made by at least 100 members or one-tenth of all members, or by those holding at least one-tenth of the issued share capital, provided all dues on shares are paid. For companies without share capital, at least one-fifth of members can apply. Jointly held shares count as one member. The Central Government can authorize applications even if these criteria are unmet, potentially requiring security for costs.
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