TaxTMI 
TaxTMI 
TaxTMI 
Reference to [Tribunal] of cases against managerial personnel.
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.... Government there are circumstances suggesting___ (a) that any person concerned in the conduct and management of the affairs of a company is or has been in connection therewith guilty of fraud, misfeasance, persistent negligence or default in carrying out his obligations and functions under the law, or breach of trust; or (b) that the business of a company is not or has not been conducted and ....
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....whether or not such person is a fit and proper person to hold the office of director or any other office connected with the conduct and management of any company. (2) Every case under sub-section (1) shall be stated in the form of an application which shall be presented to the [7][Tribunal] or such officer thereof as it may appoint in this behalf. (3) The person against whom a case is referred....
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....--------------------------- Notes:- [1] Chapter IVA inserted by the Companies (Amendment) Act, 1963, Act 53 of 1963, section 9, w.e.f. 1-1-1964. [2] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. Earlier the quoted words were substituted for "High Court" by the Companies (Amendment) Act, 1988, w.e.f. 31-5-1991, and "High Cour....
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....7. [5] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. Earlier the quoted words were substituted for "High Court" by the Companies (Amendment) Act, 1988, w.e.f. 31-5-1991, and "High Court" was substituted for "Tribunal" by the Companies Tribunal (Abolition) Act, 1967, Act, 17 of 1967, w.e.f 1-7-1967. [6] Substituted by the Comp....