https://www.taxtmi.com/caselaws?id=99101 The court held that Section 294(5) of the Companies Act, 1956, is not violative of Article 14 of the Constitution. It determined that the power exercised by the Company Law Board under this section is administrative, not quasi-judicial. The court found a failure to observe the principles of natural justice in the proceedings. Additionally, it concluded that the Company Law Board exceeded its powers by fundamentally altering the nature of the sole selling agent's appointment. As a result, the court allowed the appeal, quashing the impugned order and awarding costs to the appellant-company. en-us Wed, 28 Feb 1973 00:00:00 +0530 Wed, 25 Jan 2012 11:43:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99101 The court held that Section 294(5) of the Companies Act, 1956, is not violative of Article 14 of the Constitution. It determined that the power exercised by the Company Law Board under this section is administrative, not quasi-judicial. The court found a failure to observe the principles of natural justice in the proceedings. Additionally, it concluded that the Company Law Board exceeded its powers by fundamentally altering the nature of the sole selling agent's appointment. As a result, the court allowed the appeal, quashing the impugned order and awarding costs to the appellant-company. Case-Laws Companies Law Wed, 28 Feb 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99101