Power of Tribunal to prevent change in Board of directors likely to affect company prejudicially.

Power of Tribunal to prevent change in Board of directors likely to affect company prejudicially. https://www.taxtmi.com/acts?id=12793 Where the managing director, any other director, or the manager complains that a change in share ownership is likely to produce a prejudicial change in the Board, the Tribunal may, after inquiry and if satisfied it is just and proper, order that resolutions or actions to effect a Board change after the complaint date shall not have effect unless confirmed by the Tribunal; the Tribunal may issue an interim order with the same effect, and the restraint does not apply to private companies unless they are subsidiaries of public companies. en-us Mon, 16 May 2011 19:03:55 +0530 Mon, 16 May 2011 19:03:55 +0530 TaxTMI RSS Generator Power of Tribunal to prevent change in Board of directors likely to affect company prejudicially. https://www.taxtmi.com/acts?id=12793 Where the managing director, any other director, or the manager complains that a change in share ownership is likely to produce a prejudicial change in the Board, the Tribunal may, after inquiry and if satisfied it is just and proper, order that resolutions or actions to effect a Board change after the complaint date shall not have effect unless confirmed by the Tribunal; the Tribunal may issue an interim order with the same effect, and the restraint does not apply to private companies unless they are subsidiaries of public companies. Act-Rules Companies Law Mon, 16 May 2011 19:03:55 +0530 https://www.taxtmi.com/acts?id=12793