https://www.taxtmi.com/acts?id=12791 An order terminating, setting aside, or modifying certain management or service agreements bars any claims against the company arising from those agreements and disqualifies the affected director or manager from serving for five years without Tribunal leave; leave requires notice to and an opportunity for the Central Government to be heard. Knowingly contravening the disqualification, or knowingly being party to such contravention, is punishable by imprisonment up to one year, a fine up to fifty thousand rupees, or both. en-us Mon, 16 May 2011 18:37:15 +0530 Mon, 16 May 2011 18:37:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12791 An order terminating, setting aside, or modifying certain management or service agreements bars any claims against the company arising from those agreements and disqualifies the affected director or manager from serving for five years without Tribunal leave; leave requires notice to and an opportunity for the Central Government to be heard. Knowingly contravening the disqualification, or knowingly being party to such contravention, is punishable by imprisonment up to one year, a fine up to fifty thousand rupees, or both. Act-Rules Companies Law Mon, 16 May 2011 18:37:15 +0530 https://www.taxtmi.com/acts?id=12791