Power to restrain fraudulent persons from managing companies.

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....sp;   (b) in the course of winding-up a company it appears that a person           (i) has been guilty of any offence for which he is punishable (whether he has been convicted or not) under section 542; or           (ii) has otherwise been guilty, while an officer of the company, of any fraud or m....

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....ects which the offence was committed; and      (b) in relation to the granting of leave, means any Court [4][or the Tribunal] having jurisdiction to wind up the company as respects which leave is sought. (3) A person intending to apply for the making of an order under this section by the Court [5][or the Tribunal] having jurisdiction to wind up a company shall give not less t....

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....r liquidator shall appear and call the attention of the Court [7][or the Tribunal, as the case may be] to any matters which seem to him to be relevant, and may himself give evidence or call witnesses. (6) An order may be made by virtue of sub-clause (ii) of clause (b) of sub-section (1), notwithstanding that the person concerned may be criminally liable in respect of the matters on the ground of ....

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....es the Court by which he is convicted, as well as any Court having jurisdiction to wind up" [4] Inserted by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. [5] Inserted by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. [6] Inserted by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. [7] Inserted by the Co....