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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Central Government Can Appoint Directors to Prevent Mismanagement Under Section 408 of Companies Act, 1956.</h1> Section 408 of the Companies Act, 1956, empowers the Central Government to appoint directors to a company to prevent oppression or mismanagement. The Tribunal can specify the number of directors necessary to safeguard company, shareholder, or public interests for up to three years. If the Tribunal deems it necessary, the company may be directed to amend its articles and appoint new directors. The appointed directors are not subject to rotation and can be removed by the Central Government. Changes in the board require Tribunal confirmation, and the government may issue directives regarding company affairs, including auditor appointments.
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