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of <h1>Tribunal Can Block Harmful Board Changes Under Section 409 of Companies Act, 1956; Applies to Public Company Subsidiaries Only.</h1> Section 409 of the Companies Act, 1956 empowers the Tribunal to intervene when a change in the Board of Directors, due to a shift in share ownership, is likely to harm the company. Upon receiving a complaint from a director or manager, the Tribunal can order that any resolution or action effecting such a change be confirmed by it. This order takes precedence over any conflicting company documents or resolutions. The Tribunal can also issue interim orders during its inquiry. These provisions do not apply to private companies unless they are subsidiaries of public companies.
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