https://www.taxtmi.com/caselaws?id=98671 Government satisfaction under section 326(2)(b) of the Companies Act, 1956 must be formed on an objective appraisal of all relevant material. In assessing whether a proposed managing agent is a fit and proper person, past conduct, present conduct, and other relevant surrounding circumstances may all be considered; the inquiry is not confined to conduct immediately proximate to the application. The satisfaction is quasi-judicial in character and is open to judicial review if relevant material is ignored or extraneous material is relied on, although the court does not reweigh the sufficiency of the grounds. The appeals failed and the broader approach to relevant conduct was upheld. en-us Tue, 02 Sep 1969 00:00:00 +0530 Sun, 10 Aug 2014 20:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98671 Government satisfaction under section 326(2)(b) of the Companies Act, 1956 must be formed on an objective appraisal of all relevant material. In assessing whether a proposed managing agent is a fit and proper person, past conduct, present conduct, and other relevant surrounding circumstances may all be considered; the inquiry is not confined to conduct immediately proximate to the application. The satisfaction is quasi-judicial in character and is open to judicial review if relevant material is ignored or extraneous material is relied on, although the court does not reweigh the sufficiency of the grounds. The appeals failed and the broader approach to relevant conduct was upheld. Case-Laws Companies Law Tue, 02 Sep 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98671