TMI BlogReference to [Tribunal] of cases against managerial personnel.X X X X Extracts X X X X X X X X Extracts X X X X ..... the opinion of the Central 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 comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... may inquire into the case and [6] [record a decision] as to 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 m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h alterations or amendments shall be made as may be necessary for the purpose of determining the real questions in the inquiry. ---------------------------------- 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Companies (Amendment) Act, 1988, w.e.f. 31-5-1991, and High Court was substituted fot Tribunal by the Companies Tribunal (Abolition) Act, 1967, w.e.f 1-7-1967. [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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ituted 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. [9] 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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