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of <h1>Companies Act Update: Section 243 Amended; New Restrictions on Directorial Roles and Compensation Rules Introduced.</h1> Section 243 of the Companies Act has been amended to include new sub-sections 1A and 1B. Sub-section 1A prohibits individuals deemed unfit under section 242(4A) from holding directorial or management positions in any company for five years, unless permitted by the Central Government with Tribunal approval. Sub-section 1B states that individuals removed from such positions are not entitled to compensation for loss or termination of office, regardless of other laws or contractual agreements. Additionally, sub-section 2 is amended to reference sub-section 1A.
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