https://www.taxtmi.com/caselaws?id=102663 Section 267 of the Companies Act, 1956 was treated as mandatorily disqualifying a person convicted of an offence involving moral turpitude from appointment or continuance as managing director, reflecting the statute's protective purpose for shareholders and corporate management. The Court also recognised that an appellate court may, in an appropriate case, stay the operation of a conviction under section 389(1) of the Code of Criminal Procedure, with inherent power under section 482 also noted, where collateral statutory consequences would otherwise follow. However, the interim criminal order here was not specifically directed to the section 267 disqualification and therefore did not suspend it. en-us Thu, 19 Jan 1995 00:00:00 +0530 Sat, 02 Feb 2019 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102663 Section 267 of the Companies Act, 1956 was treated as mandatorily disqualifying a person convicted of an offence involving moral turpitude from appointment or continuance as managing director, reflecting the statute's protective purpose for shareholders and corporate management. The Court also recognised that an appellate court may, in an appropriate case, stay the operation of a conviction under section 389(1) of the Code of Criminal Procedure, with inherent power under section 482 also noted, where collateral statutory consequences would otherwise follow. However, the interim criminal order here was not specifically directed to the section 267 disqualification and therefore did not suspend it. Case-Laws Companies Law Thu, 19 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102663