Restrictions on appointment of former managing agents require inspections to verify genuine technical services and commensurate remuneration. Inspections under Section 209A must include detailed examination of documents relating to appointments of former managing agents to verify that companies genuinely required and actually received the stated technical or managerial services, that appointed parties have adequate personnel to render meaningful services, and that remuneration is commensurate with services rendered; prior approval of the company in general meeting and of the Central Government is required for such appointments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restrictions on appointment of former managing agents require inspections to verify genuine technical services and commensurate remuneration.
Inspections under Section 209A must include detailed examination of documents relating to appointments of former managing agents to verify that companies genuinely required and actually received the stated technical or managerial services, that appointed parties have adequate personnel to render meaningful services, and that remuneration is commensurate with services rendered; prior approval of the company in general meeting and of the Central Government is required for such appointments.
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