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of <h1>Section 424B: Tribunal's Role in Reviving Sick Industrial Companies with Special Directors and Operating Agencies</h1> Section 424B of the Companies Act, 1956, outlines the procedures for inquiring into sick industrial companies. The Tribunal can initiate inquiries based on references, information, or its own knowledge. It may appoint operating agencies to investigate revival schemes and report back within 21 to 40 days. The Tribunal aims to conclude inquiries within 60 to 90 days. Special directors with expertise may be appointed to safeguard company interests, reporting back within 60 days. These directors hold office at the Tribunal's pleasure, are protected from liability, and are exempt from certain company law provisions.
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