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of <h1>Amendment to Companies Act: Section 242 now requires tribunal to assess director's fitness under sub-section (4A).</h1> Section 242 of the Companies Act has been amended by the Companies (Amendment) Act, 2019, introducing sub-section (4A). This new provision mandates that, following the hearing of a case under sub-section (3) of section 241, the Tribunal must explicitly determine and record whether the respondent is deemed a fit and proper person to hold the position of director or any other office related to the management and conduct of a company.
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