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Preamble
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Part
I
Preliminary
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1
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Short
title, commencement and extent.
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2
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Definitions.
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2A
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Interpretation
of certain words and expressions.
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3
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Definitions
of "company", "existing company", "private
company" and "public company".
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4
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Meaning
of "holding company" and "subsidiary".
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4A
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Public
Financial Institutions.
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5
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Meaning
of "officer who is in default".
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6
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Meaning
of "relative".
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7
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Interpretation
of "person in accordance with whose directions or instructions
directors are accustomed to act".
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8
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Power
of Central Government to declare an establishment not to be a branch
office.
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9
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Act
to override memorandum, articles, etc.
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10
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Jurisdiction
of Courts.
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10A
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Omitted.
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10B
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Omitted.
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10C
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Omitted.
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10D
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Omitted.
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Part
I-A
Board
of Company Law administration.
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10E
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Constitution
of Board of Company Law Administration.
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10F
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Appeals
against the orders of the Company Law Board.
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10FA |
Dissolution of Company Law Board.
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10FB |
Constitution of National Company Law Tribunal
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10FC |
Composition of Tribunal
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10FD |
Qualifications for appointment of President and Members.
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10FE |
Term of office of President and Members.
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10FF |
Financial and administrative powers of Member Administration.
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10FG |
Salary, allowances and other terms and conditions of service of President and other Members.
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10FH |
Vacancy in Tribunal.
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10FI |
Resignation of President and Member.
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10FJ |
Removal and suspension of President or Member.
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10FK |
Officers and employees of Tribunal
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10FL |
Benches of Tribunal.
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10FM |
Order of Tribunal.
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10FN |
Power to review.
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10FO |
Delegation of powers.
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10FP |
Power to seek assistance of Chief Metropolitan Magistrate and District Magistrate.
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10FQ |
Appeal from order of Tribunal.
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10FR |
Constitution of Appellate Tribunal.
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10FS |
Vacancy in Appellate Tribunal, etc.
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10FT |
Term of office of Chairperson and Members.
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10FU |
Resignation of Chairperson and Members.
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10FV |
Removal and suspension of Chairperson and Members of Appellate Tribunal.
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10FW |
Salary, allowances and other terms and conditions of service of Chairperson and Members.
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10FX |
Selection Committee.
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10FY |
Chairperson, etc., to be public servants.
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10FZ |
Protection of action taken in good faith.
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10FZA |
Procedure and powers of Tribunal and Appellate Tribunal.
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10G |
Power to punish for contempt.
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10GA |
Staff of Appellate. Tribunal.
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10GB |
Civil court not to have jurisdiction.
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10GC |
Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings.
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10GD |
Right to legal representation.
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10GE |
Limitation.
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10GF |
Appeal to Supreme Court.
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Part
II
Incorporation
of Company and Matters Incidental thereto.
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11
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Prohibition
of associations and partnerships exceeding certain number.
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12
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Mode
of forming incorporated company.
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13
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Requirements
with respect to memorandum.
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14
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Form
of memorandum.
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15
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Printing
and signature of memorandum.
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15A
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Special
provision as to alteration of memorandum consequent on alteration
of name of State of Madras.
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15B
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Special
provision as to alteration of memorandum consequent on alteration
of name of State of Mysore.
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16
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Alteration
of memorandum.
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17
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Special resolution and confirmation by [Company Law Board] required for alteration of memorandum.
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17A |
Change of registered office within a State
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18
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Alteration
to be registered within three months.
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19
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Effect
of failure to register.
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20
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Companies
not to be registered with undesirable names.
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21
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Change
of name by company.
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22
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Rectification
of name of company.
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23
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Registration
of change of name and effect thereof.
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24
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Change
of name of existing private limited companies.
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25
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Power
to dispense with "Limited" in name of charitable or other
company.
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26
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Articles
prescribing regulations.
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27
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Regulations
required in case of unlimited company, company limited by guarantee
or private company limited by shares.
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28
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Adoption
and application of Table A in the case of companies limited by shares.
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29
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Form
of articles in the case of other companies.
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30
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Form
and signature of articles.
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31
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Alteration
of articles by special resolution.
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32
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Registration
of unlimited company as limited, etc.
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33
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Registration
of memorandum and articles.
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34
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Effect
of registration.
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35
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Conclusiveness
of certificate of incorporation.
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36
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Effect
of memorandum and articles.
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37
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Provision
as to companies limited by guarantee.
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38
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Effect
of alteration in memorandum or articles.
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39
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Copies
of memorandum and articles, etc., to be given to members.
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40
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Alteration
of memorandum or articles, etc., to be noted in every copy.
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41
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Definition
of "member".
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42
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Membership
of holding company.
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43
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Consequences
of default in complying with conditions constituting a company a
private company.
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43A
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Private
company to become public company in certain cases.
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44
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Prospectus
or statement in lieu of prospectus to be filed by private company
on ceasing to be private company.
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45
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Members
severally liable for debts where business carried on with fewer
than seven, or in the case of a private company, two members.
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46
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Form
of contracts.
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47
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Bills
of exchange and promissory notes.
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48
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Execution
of deeds.
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49
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Investments
of company to be held in its own name.
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50
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Power
for company to have official seal for use outside India.
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51
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Service
of documents on company.
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52
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Service
of documents on Registrar.
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53
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Service
of documents on members by company.
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54
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Authentication
of documents and Proceedings.
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Part
III
Prospectus
and Allotment, and other matters relating to issue of shares or
debentures.
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55
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Dating
of prospectus.
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55A |
Powers of Securities and Exchange Board of India
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56
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Matters
to be stated and reports to be set out in prospectus.
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57
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Expert
to be unconnected with formation or management of company.
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58
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Expert's
consent to issue of prospectus containing statement by him.
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58A
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Deposits
not to be invited without issuing an advertisement.
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58AA |
Small depositors
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58AAA |
Default in acceptance or refund of deposits to be cognizable
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58B
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Provisions
relating to prospectus to apply to advertisement.
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59
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Penalty
and interpretation.
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60
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Registration
of prospectus.
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60A |
Filing of Shelf prospectus.
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60B |
Information memorandum
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61
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Terms
of contract mentioned in prospectus or statement in lieu of prospectus,
not to be varied.
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62
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Civil
liability for misstatements in prospectus.
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63
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Criminal
liability for misstatements in prospectus.
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64
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Document
containing offer of shares or debentures for sale to be deemed
prospectus.
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65
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Interpretation
of provisions relating to prospectuses.
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66
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Newspaper
advertisement of prospectus.
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67
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Construction
of references to offering shares or debentures to the public, etc.
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68
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Penalty
for fraudulently inducing persons to invest money.
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68A
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Personation
for acquisition, etc., of shares.
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69
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Prohibition
of allotment unless minimum subscription received.
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70
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Prohibition
of allotment in certain cases unless statement in lieu of prospectus
delivered to Registrar.
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71
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Effect
of irregular allotment.
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72
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Application
for, and allotment of, shares and debentures.
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73
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Allotment
of shares and debentures to be dealt in on stock exchange.
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74
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Manner
of reckoning fifth, eighth and tenth days in sections 72 and 73.
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75
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Return
as to allotments.
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76
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Power
to pay certain commissions and prohibition of payment of all other
commissions, discounts, etc.
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77
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Restrictions
on purchase by company, or loans by company for purchase, of its
own or its holding company's shares.
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77A |
Power of company to purchase its own securities
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77AA |
Transfer of certain sums to capital redemption reserve account
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77B |
Prohibition for buy-back in certain circumstances.
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78
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Application
of premiums received on issue of shares.
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79
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Power
to issue shares at a discount.
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79A |
Issue of sweat equity shares
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80
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Power
to issue redeemable preference shares.
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80A
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Redemption
of irredeemable preference share, etc.
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81
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Further
issue of capital.
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Part
IV
Share
Capital and Debentures
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82
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Nature
of shares.
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83
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Numbering
of shares [Omitted w.e.f. 20-9-1995]
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84
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Certificate
of shares.
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85
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Two
kinds of share capital.
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86
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New
issues of share capital to be only of two kinds.
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87
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Voting
rights.
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88
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Prohibition
of issue of shares with disproportionate rights.
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89
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Termination
of disproportionately excessive voting rights in existing companies.
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90
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Savings.
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91
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Calls
on shares of same class to be made on uniform basis.
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92
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Power
of company to accept unpaid share capital, although not called up.
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93
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Payment
of dividend in proportion to amount paid-up.
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94
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Power
of limited company to alter its share capital.
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94A
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Share
capital to stand increased where an order is made under section
81(4).
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95
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Notice
to Registrar of consolidation of share capital, conversion of shares
into stock, etc.
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96
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Effect
of conversion of shares into stock.
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97
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Notice
of increase of share capital or of members.
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98
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Power
of unlimited company to provide for reserve share capital on re-registration.
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99
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Reserve
liability of limited company.
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100
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Special
resolution for reduction of share capital.
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101
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Application
to Court for confirming order, objections by creditors and settlement
of list of objecting creditors.
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102
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Order
confirming reduction and powers of Court on making such order.
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103
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Registration
of order and minute of reduction.
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104
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Liability
of members in respect of reduced shares.
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105
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Penalty
for concealing name of creditor, etc.
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106
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Alteration
of rights of holders of special classes of shares.
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107
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Rights
of dissentient shareholders.
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108
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Transfer
not to be registered except on production of instrument of transfer.
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108A
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Restriction
on acquisition of certain shares.
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108B
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Restriction
on transfer of shares.
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108C
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Restriction
on the transfer of shares of foreign companies.
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108D
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Power
of Central Government to direct companies not to give effect to
the transfer.
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108E
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Time
within which refusal to be communicated.
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108F
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Nothing
in sections 108A to 108D to apply to Government companies, etc.
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108G
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Applicability
of the provisions of sections 108A to 108F.
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108H
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Construction
of certain expressions used in sections 108A to 108G.
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108I
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Penalty
for acquisition or transfer of share in contravention of sections
108A to 108D.
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109
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Transfer
by legal representative.
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109A |
Nomination of shares
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109B |
Transmission of shares
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110
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Application
for transfer.
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111
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Power
to refuse registration and appeal against refusal.
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111A
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Rectification
of register on transfer.
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112
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Certification
of transfers.
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113
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Limitation
of time for issue of certificates.
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114
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Issue
and effect of share warrants to bearer.
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115
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Share
warrants and entries in register of members.
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116
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Penalty
for personation of shareholder.
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117
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Debentures
with voting rights not to be issued hereafter.
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117A |
Debenture trust deed
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117B |
Appointment of debenture trustees and duties of debenture trustees
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117C |
Liability of company to create security and debenture redemption reserve
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118
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Right
to obtain copies of and inspect trust deed.
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119
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Liability
of trustees for debenture-holders.
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120
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Perpetual
debentures.
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121
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Power
to re-issue redeemed debentures in certain cases.
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122
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Specific
performance of contract to subscribe for debentures.
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123
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Payments
of certain debts out of assets subjects to floating charge in priority
to claims under the charge.
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Part
V
Registration
of Charges.
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124
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"Charge" to include mortgage in this Part.
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125
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Certain
charges to be void against liquidator or creditors unless registered.
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126
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Date
of notice of charge.
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127
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Registration
of charges on properties acquired subject to charge.
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128
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Particulars
in case of series o debentures entitling holders pari passu.
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129
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Particulars
in case of commission, etc., on debentures.
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130
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Register
of charges to be kept by Registrar.
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131
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Index
to register of charges.
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132
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Certificate
of registration.
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133
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Endorsement
of certificate of registration on debenture or certificate of debenture
stock.
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134
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Duty
of company as regards registration and right of interested party.
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135
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Provisions
of Part to apply to modification of charges.
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136
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Copy
of instrument creating charge to be kept by company at registered
office.
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137
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Entry
in register of charges of appointment of receiver or manager.
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138
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Company
to report satisfaction and procedure thereafter.
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139
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Power
of Registrar to make entries of satisfaction and release in absence
of intimation from company.
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140
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Copy
of memorandum of satisfaction to be furnished to company.
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View Judgements
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141
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Rectification
by Company Law Board of register of charges.
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142
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Penalties.
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View Judgements
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143
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Company's
register of charges.
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144
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Right
to inspect copies of instruments creating charges and company's
register of charges.
|
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|
|
|
145
|
Application
of Part of charges requiring registration under it but not under
previous law.
|
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|
|
Part
VI
Management
and Administration
|
|
Chapter
I
General
Provisions.
|
|
|
146
|
Registered
office of company.
|
View Judgements
|
|
|
147
|
Publication
of name by company.
|
View Judgements
|
|
|
148
|
Publication
of authorised as well as subscribed and paid-up capital.
|
View Judgements
|
|
|
149
|
Restrictions
on commencement of business.
|
View Judgements
|
|
|
150
|
Register
of members.
|
View Judgements
|
|
|
151
|
Index
of members.
|
View Judgements
|
|
|
152
|
Register
and index of debenture-holders.
|
View Judgements
|
|
|
152A
|
Register
and index of beneficial owners.
|
View Judgements
|
|
|
153
|
Trusts
not to be entered on register.
|
View Judgements
|
|
|
153A
|
Appointment
of public trustee.
|
View Judgements
|
|
|
153B
|
Declaration
as to shares and debentures held in trust.
|
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|
|
|
154
|
Power
to close register of members or debenture-holders.
|
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|
|
|
155
|
Omitted.
|
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|
|
|
156
|
Omitted.
|
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|
|
|
157
|
Power
for company to keep foreign register of members or debenture-holders.
|
View Judgements
|
|
|
158
|
Provisions
as to foreign registers.
|
View Judgements
|
|
|
159
|
Annual
return to be made by company having a share capital.
|
View Judgements
|
|
|
160
|
Annual
return to be made by company not having a share capital.
|
View Judgements
|
|
|
161
|
Further
provisions regarding annual return and certificate to be annexed
thereto.
|
View Judgements
|
|
|
162
|
Penalty
and interpretation.
|
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|
|
|
163
|
Place
of keeping, and inspection of , registers and returns.
|
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|
|
|
164
|
Registers
etc., to be evidence.
|
View Judgements
|
|
|
165
|
Statutory
meeting and statutory report of company.
|
View Judgements
|
|
|
166
|
Annual
general meeting.
|
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|
|
|
167
|
Power
of Company Law Board to call annual general meeting.
|
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|
|
|
168
|
Penalty
for default in complying with section 166 or 167.
|
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|
|
|
169
|
Calling
of extraordinary general meeting on requisition.
|
View Judgements
|
|
|
170
|
Sections
171 to 186 to apply to meetings.
|
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|
|
|
171
|
Length
of notice for calling meeting.
|
View Judgements
|
|
|
172
|
Contents
and manner or service of notice and persons on whom it is to be
served.
|
View Judgements
|
|
|
173
|
Explanatory
statement to be annexed to notice.
|
View Judgements
|
|
|
174
|
Quorum
for meeting.
|
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|
|
|
175
|
Chairman
of meeting.
|
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|
|
|
176
|
Proxies.
|
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|
|
|
177
|
Voting
to be by show of hands in first instance.
|
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|
|
|
178
|
Chairman's
declaration of result of voting by show of hands to be conclusive.
|
View Judgements
|
|
|
179
|
Demand
for poll.
|
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|
|
|
180
|
Time
of taking poll.
|
View Judgements
|
|
|
181
|
Restriction
on exercise of voting right of members who have not paid calls,
etc.
|
View Judgements
|
|
|
182
|
Restrictions
on exercise of voting right in other cases to be void.
|
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|
|
|
183
|
Right
of member to use his votes differently.
|
View Judgements
|
|
|
184
|
Scrutineers
at poll.
|
View Judgements
|
|
|
185
|
Manner
of taking poll and result thereof.
|
View Judgements
|
|
|
186
|
Power
of Company Law Board to order meeting to be called.
|
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|
|
|
187
|
Representation
of corporations at meetings of companies and of creditors.
|
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|
|
|
187A
|
Representation
of the President and Governors in meetings of companies of which
they are members.
|
View Judgements
|
|
|
187B
|
Exercise
of voting rights in respect of shares held in trust.
|
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|
|
|
187C
|
Declaration
by persons not holding beneficial interest in any share.
|
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|
|
|
187D
|
Investigation
of beneficial ownership of shares in certain cases.
|
View Judgements
|
|
|
188
|
Circulation
of members' resolutions.
|
View Judgements
|
|
|
189
|
Ordinary
and special resolutions.
|
View Judgements
|
|
|
190
|
Resolutions
requiring special notice.
|
View Judgements
|
|
|
191
|
Resolutions
passed at adjourned meetings.
|
View Judgements
|
|
|
192
|
Registration
of certain resolutions and agreements.
|
View Judgements
|
|
|
192A |
Passing of resolutions by postal ballot
|
View Judgements
|
|
|
193
|
Minutes
of proceedings of general meetings and of Board and other
meetings.
|
View Judgements
|
|
|
194
|
Minutes
to be evidence.
|
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|
|
|
195
|
Presumptions
to be drawn where minutes duly drawn and signed.
|
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|
|
|
196
|
Inspection
of minute books of general meetings.
|
View Judgements
|
|
|
197
|
Publication
of reports of proceedings of general meetings.
|
View Judgements
|
|
|
197A
|
Company
not to appoint or employ certain different categories of managerial
personnel at the same time
|
View Judgements
|
|
|
198
|
Overall
maximum managerial remuneration and managerial remuneration in case
of absence or inadequacy of profits.
|
View Judgements
|
|
|
199
|
Calculation
of commission, etc. in certain cases.
|
View Judgements
|
|
|
200
|
Prohibition
of tax-fee payments.
|
View Judgements
|
|
|
201
|
Avoidance
of provisions relieving liability of officers and auditors of company.
|
View Judgements
|
|
|
202
|
Undercharged
insolvent not to manage companies.
|
View Judgements
|
|
|
203
|
Power
to restrain fraudulent persons from managing companies.
|
View Judgements
|
|
|
204
|
Restriction
on appointment of firm or body corporate to office or place of profit
under a company.
|
View Judgements
|
|
|
204A
|
Restrictions
on the appointment of former managing agents or secretaries and
treasurers to any office.
|
View Judgements
|
|
|
205
|
Dividend
to be paid only out of profits.
|
View Judgements
|
|
|
205A
|
Unpaid
dividend to be transferred to special dividend account.
|
View Judgements
|
|
|
205B
|
Payment
of unpaid or unclaimed dividend.
|
View Judgements
|
|
|
205C |
Establishment of Investor Education and Protection Fund
|
View Judgements
|
|
|
206
|
Dividend
not to be paid except to registered shareholders or to their order
ro to their bankers.
|
View Judgements
|
|
|
206A
|
Right
to dividend, rights shares and bonus shares to be held in abeyance
pending registration of transfer of shares.
|
View Judgements
|
|
|
207
|
Penalty
for failure to distribute dividends within forth-two days.
|
View Judgements
|
|
|
208
|
Power
of company to pay interest out of capital in certain cases.
|
View Judgements
|
|
|
209
|
Books
of account to be kept by company.
|
View Judgements
|
|
|
209A
|
Inspection
of books of account, etc., of companies.
|
View Judgements
|
|
|
210
|
Annual
accounts and balance-sheet.
|
View Judgements
|
|
|
210A |
Constitution of National Advisory Committee on Accounting Standards
|
View Judgements
|
|
|
211
|
Form
and contents of balance-sheet and profit and loss account.
|
View Judgements
|
|
|
212
|
Balance-sheet
of holding company to include certain particulars as to its subsidiaries.
|
View Judgements
|
|
|
213
|
Financial
year of holding company and subsidiary.
|
View Judgements
|
|
|
214
|
Rights of holding company's representatives and members.
|
View Judgements
|
|
|
215
|
Authentication
of balance-sheet and profit and loss account.
|
View Judgements
|
|
|
216
|
Profit
and loss account to be annexed and auditor's report to be attached
to balance-sheet.
|
View Judgements
|
|
|
217
|
Board's
report.
|
View Judgements
|
|
|
218
|
Penalty
for improper issue, circulation or publication of balance-sheet
or profit and loss account.
|
View Judgements
|
|
|
219
|
Right
of member to copies of balance-sheet and auditors' report.
|
View Judgements
|
|
|
220
|
Three
copies of balance-sheet, etc., to be filed with Registrar.
|
View Judgements
|
|
|
221
|
Duty
of officer to make disclosure of payments, etc.
|
View Judgements
|
|
|
222
|
Construction
of references to documents annexed to accounts.
|
View Judgements
|
|
|
223
|
Certain
companies to publish statement in the Form in Table F in Schedule
I.
|
View Judgements
|
|
|
224
|
Appointment
and remuneration of auditors.
|
View Judgements
|
|
|
224A
|
Auditor
not to be appointed except with the approval of the company by special
resolution in certain cases.
|
View Judgements
|
|
|
225
|
Provisions
as to resolutions for appointing or removing auditors.
|
View Judgements
|
|
|
226
|
Qualifications
and disqualifications of auditors.
|
View Judgements
|
|
|
227
|
Powers
and duties of auditors.
|
View Judgements
|
|
|
228
|
Audit
of accounts of branch office of company.
|
View Judgements
|
|
|
229
|
Signature
of audit report, etc.
|
View Judgements
|
|
|
230
|
Reading
and inspection of auditor's report.
|
View Judgements
|
|
|
231
|
Right
of auditor to attend general meeting.
|
View Judgements
|
|
|
232
|
Penalty
for non-compliance by auditor with sections 225 and 231.
|
View Judgements
|
|
|
233
|
Penalty
for non-compliance by auditor with sections 227 and 229.
|
View Judgements
|
|
|
233A
|
Power
of Central Government to direct special audit in certain cases.
|
View Judgements
|
|
|
233B
|
Audit
of cost accounts in certain cases.
|
View Judgements
|
|
|
234
|
Power
of Registrar to call for information or explanation.
|
View Judgements
|
|
|
234A
|
Seiqure
of documents by Registrar.
|
View Judgements
|
|
|
235
|
Investigation
of the affairs of a company.
|
View Judgements
|
|
|
236
|
Application
by members to be supported by evidence and power to call for security.
|
View Judgements
|
|
|
237
|
Investigation
of company's affairs in other cases.
|
View Judgements
|
|
|
238
|
Firm,
body corporate or association not to be appointed as inspector.
|
View Judgements
|
|
|
239
|
Power
of inspectors to carry investigation into affairs of related companies.
|
View Judgements
|
|
|
240
|
Production
of documents and evidence.
|
View Judgements
|
|
|
240A
|
Seizure
of documents by inspector.
|
View Judgements
|
|
|
241
|
Inspector's
report.
|
View Judgements
|
|
|
242
|
Prosecution.
|
View Judgements
|
|
|
243
|
Application
for winding up of company or an order under section 397 or 398.
|
View Judgements
|
|
|
244
|
Proceedings
for recovery of damages or property.
|
View Judgements
|
|
|
245
|
Expenses
of investigation.
|
View Judgements
|
|
|
246
|
Inspector's
report to be evidence.
|
View Judgements
|
|
|
247
|
Investigation
of ownership of company.
|
View Judgements
|
|
|
248
|
Information
regarding persons having an interest in company.
|
View Judgements
|
|
|
249
|
Investigation
of associate ship with managing agent, etc.
|
View Judgements
|
|
|
250
|
Imposition
of restrictions upon shares and debentures and prohibition
of transfer of shares or debentures in certain cases.
|
View Judgements
|
|
|
250A
|
Voluntary
winding up of company, etc. not to stop investigation proceedings.
|
View Judgements
|
|
|
251
|
Saving
for legal advisers and bankers.
|
View Judgements
|
|
Chapter
II
Directors
|
|
|
252
|
Minimum
number of directors.
|
View Judgements
|
|
|
253
|
Only
individuals to be directors.
|
View Judgements
|
|
|
254
|
Subscribers
of memorandum deemed to be directors.
|
View Judgements
|
|
|
255
|
Appointment
of directors and proportion of those who are to retire by rotation.
|
View Judgements
|
|
|
256
|
Ascertainment
of directors retiring by rotation and filling of vacancies.
|
View Judgements
|
|
|
257
|
Right
of persons other than retiring directors to stand for directorship.
|
View Judgements
|
|
|
258
|
Right
of company to increase or reduce the number of directors.
|
View Judgements
|
|
|
259
|
Increase
in number of directors to require Government sanction.
|
View Judgements
|
|
|
260
|
Additional
directors.
|
View Judgements
|
|
|
261
|
Certain
persons not to be appointed directors, except by special resolution.
|
View Judgements
|
|
|
262
|
Filling
of casual vacancies among directors.
|
View Judgements
|
|
|
263
|
Appointment
of directors to be voted on individually.
|
View Judgements
|
|
|
263A
|
Sections
177, 255, 256 and 263 not to apply in relation to companies not
carrying on business for profit, etc.
|
View Judgements
|
|
|
264
|
Consent
of candidate for directorship to be filed with the company and consent
to act as director to be filed with the Registrar.
|
View Judgements
|
|
|
265
|
Option
to company to adopt proportional representation for the appointment
of directors.
|
View Judgements
|
|
|
266
|
Restrictions
on appointment or advertisement of director.
|
View Judgements
|
|
|
267
|
Certain
persons not to be appointed managing directors.
|
View Judgements
|
|
|
268
|
Amendment
of provision relating to managing, whole time or non-rotational directors
to require Government approval.
|
View Judgements
|
|
|
269
|
Appointment
of managing or whole-time director or manager to require Government
approval only in certain cases.
|
View Judgements
|
|
|
270
|
Time
within which share qualification is to be obtained and maximum amount
thereof.
|
View Judgements
|
|
|
271
|
Repealed.
|
View Judgements
|
|
|
272
|
Penalty.
|
View Judgements
|
|
|
273
|
Saving
|
View Judgements
|
|
|
274
|
Disqualifications
of directors.
|
View Judgements
|
|
|
275
|
No
person to be a director of more than twenty companies.
|
View Judgements
|
|
|
276
|
Choice
to be made by director of more than twenty companies at commencement
of Act.
|
View Judgements
|
|
|
277
|
Choice
by person becoming director of more than twenty companies after
commencement of Act.
|
View Judgements
|
|
|
278
|
Exclusion
of certain directorships for the purposes of sections 275, 276 and
277.
|
View Judgements
|
|
|
279
|
Penalty.
|
View Judgements
|
|
|
280
|
Repealed.
|
View Judgements
|
|
|
281
|
Repealed.
|
View Judgements
|
|
|
282
|
Repealed.
|
View Judgements
|
|
|
283
|
Vacation
of office by directors.
|
View Judgements
|
|
|
284
|
Removal
of directors.
|
View Judgements
|
|
|
285
|
Board
to meet at least once in every three calendar months.
|
View Judgements
|
|
|
286
|
Notice
of meetings.
|
View Judgements
|
|
|
287
|
Quorum
for meetings.
|
View Judgements
|
|
|
288
|
Procedure
where meeting adjourned for want of quorum.
|
View Judgements
|
|
|
289
|
Passing
of resolutions by circulation.
|
View Judgements
|
|
|
290
|
Validity
of acts of directors.
|
View Judgements
|
|
|
291
|
General
powers of Board.
|
View Judgements
|
|
|
292
|
Certain
powers to be exercised by Board only at meeting.
|
View Judgements
|
|
|
292A |
Audit Committee
|
View Judgements
|
|
|
293
|
Restrictions
on powers of Board.
|
View Judgements
|
|
|
293A
|
Prohibitions
and restrictions regarding political contributions.
|
View Judgements
|
|
|
293B
|
Power of Board and other persons to make contributions to the National Defence Fund, etc.
|
View Judgements
|
|
|
294
|
Appointment
of sole selling agents to require approval of company in general
meeting.
|
View Judgements
|
|
|
294A
|
Prohibition
of payment of compensation to sole selling agents for loss of office
in certain cases.
|
View Judgements
|
|
|
294AA
|
Power
of Central Government to prohibit the appointment of sole selling
agents in certain cases.
|
View Judgements
|
|
|
295
|
Loans
to directors, etc.
|
View Judgements
|
|
|
296
|
Application
of section 295 to book debts in certain cases.
|
View Judgements
|
|
|
297
|
Board's
sanction to be required for certain contracts in which particular
directors are interested.
|
View Judgements
|
|
|
298
|
Power
of directors to carry on business when managing agent or secretaries
and treasurers are deemed to have vacated office, etc.
|
View Judgements
|
|
|
299
|
Disclosure
of interests by director.
|
View Judgements
|
|
|
300
|
Interested
director not to participate or vote in Board's proceedings.
|
View Judgements
|
|
|
301
|
Register
of contracts, companies and firms in which directors are interested.
|
View Judgements
|
|
|
302
|
Disclosure
to members of director's interest in contract appointing manager,
managing director.
|
View Judgements
|
|
|
303
|
Register
of directors.
|
View Judgements
|
|
|
304
|
Inspection
of the register.
|
View Judgements
|
|
|
305
|
Duty
of directors, etc., to make disclosure.
|
View Judgements
|
|
|
306
|
Register
to be kept by Registrar and inspection thereof.
|
View Judgements
|
|
|
307
|
Register
of directors' shareholdings, etc.
|
View Judgements
|
|
|
308
|
Duty
of directors and persons deemed to be directors to make disclosure
of shareholdings.
|
View Judgements
|
|
|
309
|
Remuneration of directors.
|
View Judgements
|
|
|
310
|
Provision
for increase in remuneration to require Government sanction.
|
View Judgements
|
|
|
311
|
Increase
in remuneration of managing director on reappointment or appointment
after Act to require Government sanction.
|
View Judgements
|
|
|
312
|
Prohibition
of assignment of office by director.
|
View Judgements
|
|
|
313
|
Appointment
and term of office of alternate directors.
|
View Judgements
|
|
|
314
|
Director,
etc., not to hold office or place of profit.
|
View Judgements
|
|
|
315
|
Omitted.
|
View Judgements
|
|
|
316
|
Number
of companies of which one person may be appointed managing director.
|
View Judgements
|
|
|
317
|
Managing
Director not to be appointed for more than five years at a time.
|
View Judgements
|
|
|
318
|
Compensation
for loss of office not permissible except to managing or whole-time
directors or to directors who are managers.
|
View Judgements
|
|
|
319
|
Payment
to director, etc., for loss of office, etc., in connection with transfer
of undertaking or property.
|
View Judgements
|
|
|
320
|
Payment
to director for loss of office, etc., in connection with transfer
of shares.
|
View Judgements
|
|
|
321
|
Provisions
supplementary to sections 318, 319 and 320.
|
View Judgements
|
|
|
322
|
Directors,
etc., with unlimited liability in limited company.
|
View Judgements
|
|
|
323
|
Special
resolution of limited company making liability of directors, etc.,
unlimited.
|
View Judgements
|
|
Chapter
III
Managing
Agents
|
|
|
324
|
Power
of Central Government to notify that companies engaged in specified
classes of industry or business shall not have managing agents.
|
View Judgements
|
|
|
324A
|
Abolition
of managing agencies and secretaries and treasurers.
|
View Judgements
|
|
|
325
|
Managing
agency company not to have managing agent.
|
View Judgements
|
|
|
325A
|
Subsidiary
of a body corporate not to be appointed as managing agent.
|
View Judgements
|
|
|
326
|
Central
Government to approve of appointment, etc., of managing agent and
circumstances in which approval may be accorded.
|
View Judgements
|
|
|
327
|
Application
of sections 328 to 331.
|
View Judgements
|
|
|
328
|
Term
of office of managing agent.
|
View Judgements
|
|
|
329
|
Variation
of managing agency agreement.
|
View Judgements
|
|
|
330
|
Term
of office of existing managing agents to terminate on 15th August,
1960.
|
View Judgements
|
|
|
331
|
Application
of Act to existing managing agents.
|
View Judgements
|
|
|
332
|
No
person to be managing agent of more than ten companies after 15th
August, 1960.
|
View Judgements
|
|
|
333
|
Right
of managing agent to charge on company's assets.
|
View Judgements
|
|
|
334
|
Vacation
of office on insolvency, dissolution or winding up, etc.
|
View Judgements
|
|
|
335
|
Suspension
from office where receiver appointed.
|
View Judgements
|
|
|
336
|
Vacation
of office on conviction in certain cases.
|
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|
|
|
337
|
Removal
for fraud or breach of trust.
|
View Judgements
|
|
|
338
|
Removal
for gross negligence or mismanagement.
|
View Judgements
|
|
|
339
|
Power
to call meetings for the purposes of sections 337 and 338 and procedure.
|
View Judgements
|
|
|
340
|
Time
when certain disqualifications will take effect.
|
View Judgements
|
|
|
341
|
Conviction
not to operate as disqualification if convicted partner, director,
etc., is expelled.
|
View Judgements
|
|
|
342
|
Resignation
of office by managing agent.
|
View Judgements
|
|
|
343
|
Transfer
of office by managing agent.
|
View Judgements
|
|
|
344
|
Managing
agency not to be heritable after commencement of Act.
|
View Judgements
|
|
|
345
|
Succession
to managing agency by inheritance or device under agreement before
commencement of Act, to be subject to Central Government's approval.
|
View Judgements
|
|
|
346
|
Changes
in constitution of managing agency, firm or corporation to be approved
by Central Government.
|
View Judgements
|
|
|
347
|
Application
of Schedule VIII to certain managing agents.
|
View Judgements
|
|
|
348
|
Remuneration
of managing agent ordinarily not to exceed 10 per cent of net profits.
|
View Judgements
|
|
|
349
|
Determination
of depreciation.
|
View Judgements
|
|
|
350
|
Ascertainment
of depreciation.
|
View Judgements
|
|
|
351
|
Special
provision where there is a profit-sharing arrangement between two
or more companies.
|
View Judgements
|
|
|
352
|
Payment
of additional remuneration.
|
View Judgements
|
|
|
353
|
Time
of payment of remuneration.
|
View Judgements
|
|
|
354
|
Managing
agent not entitled to office allowance but entitled to be reimbursed
in respect of expenses.
|
View Judgements
|
|
|
355
|
Saving.
|
View Judgements
|
|
|
356
|
Appointment
of managing agent or associate as selling agent of goods produced
by the company.
|
View Judgements
|
|
|
357
|
Application
of section 356 to case where business of company consists of the
supply or rendering of any services.
|
View Judgements
|
|
|
358
|
Appointment
of managing agent or associate as buying agent for company.
|
View Judgements
|
|
|
359
|
Commission,
etc., of managing agent as buying or selling agent of other concerns.
|
View Judgements
|
|
|
360
|
Contracts
between managing agent or associate and company for the sale or
purchase of goods or the supply of services, etc.
|
View Judgements
|
|
|
361
|
Existing
contracts relating to matters dealt with in sections 356 to 360 to
terminate on 1st March, 1958.
|
View Judgements
|
|
|
362
|
Registers
to be open to inspection.
|
View Judgements
|
|
|
363
|
Remuneration
received in contravention of foregoing sections to be held in trust
for company.
|
View Judgements
|
|
|
364
|
Company
not to be bound by assignment of, or charge on, managing agent's
remuneration.
|
View Judgements
|
|
|
365
|
Prohibition
of payment of compensation for loss of office in certain cases.
|
View Judgements
|
|
|
366
|
Limit
of compensation for loss of office.
|
View Judgements
|
|
|
367
|
Managing
agent's rights and liabilities after termination of office.
|
View Judgements
|
|
|
368
|
Managing
agent to be subject to control of Board and to restrictions in Schedule
VII.
|
View Judgements
|
|
|
369
|
Loans
to managing agent.
|
View Judgements
|
|
|
370
|
Loans,
etc., to companies under the same management.
|
View Judgements
|
|
|
370A
|
Provisions
as to certain loans which could not have been made if sections 369
and 370 were in force.
|
View Judgements
|
|
|
371
|
Penalty
for contravention of section 369, 370 or 370A.
|
View Judgements
|
|
|
372
|
Purchase
by company of shares, etc., of other companies.
|
View Judgements
|
|
|
373
|
Investments
made before commencement of Act.
|
View Judgements
|
|
|
374
|
Penalty
for contravention of section 372 or 373.
|
View Judgements
|
|
|
375
|
Managing
agent not to engage in business competing with business of managed
company.
|
View Judgements
|
|
|
376
|
Condition
prohibiting reconstruction or amalgamation of company except on
continuance of managing agent, etc., to be void.
|
View Judgements
|
|
|
377
|
Restrictions
on right of managing agent to appoint directors.
|
View Judgements
|
|
Chapter
IV
A.
Secretaries and Treasurers.
|
|
|
378
|
Appointment
of secretaries and treasurers.
|
View Judgements
|
|
|
379
|
Provisions
applicable to managing agents to apply to secretaries and treasurers
with the exceptions and modifications specified in sections 380 to
383.
|
View Judgements
|
|
|
380
|
Sections
324, 330 and 332 not to apply.
|
View Judgements
|
|
|
381
|
Section
348 to apply subject to a modification.
|
View Judgements
|
|
|
382
|
Secretaries
and treasurers not to appoint directors.
|
View Judgements
|
|
|
383
|
Secretaries
and treasurers not to sell goods or articles produced by company,
etc., unless authorised by Board.
|
View Judgements
|
|
|
383A
|
Certain
companies to have secretaries.
|
View Judgements
|
|
|
|
B.
Managers
|
|
|
|
384
|
Firm
or body corporate not to be appointed manager.
|
View Judgements
|
|
|
385
|
Certain
persons not to be appointed managers.
|
View Judgements
|
|
|
386
|
Number
of companies of which a person may be appointed manager.
|
View Judgements
|
|
|
387
|
Remuneration
of manager.
|
View Judgements
|
|
|
388
|
Application
of sections 269, 310, 311, 312 and 317 to managers.
|
View Judgements
|
|
|
388A
|
Sections
386 to 388 not to apply to certain private companies.
|
View Judgements
|
|
Chapter
IVA
Powers
of Central Government to Remove Managerial Personnel from Office on
the Recommendation of the Company Law Board.
|
|
|
388B
|
Reference
to Company Law Board of cases against managerial personnel.
|
View Judgements
|
|
|
388C
|
Interim
order by Company Law Board.
|
View Judgements
|
|
|
388D
|
Findings
of the Company Law Board.
|
View Judgements
|
|
|
388E
|
Power
of Central Government to remove managerial personnel on the basis
of Company Law Board's decision.
|
View Judgements
|
|
Chapter
V
Arbitration,
Compromises, Arrangements and Reconstructions.
|
|
|
389
|
Repealed
- Power for Companies to refer matters to arbitration.
|
View Judgements
|
|
|
390
|
Interpretation
of sections 391 and 393.
|
View Judgements
|
|
|
391
|
Power
to compromise or make arrangements with creditors and members.
|
View Judgements
|
|
|
392
|
Power
of High Court to enforce compromises and arrangements.
|
View Judgements
|
|
|
393
|
Information
as to compromises or arrangements with creditors and members.
|
View Judgements
|
|
|
394
|
Provisions
for facilitating reconstruction and amalgamation of companies.
|
View Judgements
|
|
|
394A
|
Notice
to be given to Central Government for applications under Sections
391 and 394.
|
View Judgements
|
|
|
395
|
Power
and duty to acquire shares of shareholders dissenting from scheme
or contract approved by majority.
|
View Judgements
|
|
|
396
|
Power
of Central Government to provide for amalgamation of companies in
national interest.
|
View Judgements
|
|
|
396A
|
Preservation
of books and papers of amalgamated company.
|
View Judgements
|
|
Chapter
VI
Prevention
of Oppression and Mismanagement.
|
|
|
397
|
Application
to Company Law Board for relief in cases of oppression.
|
View Judgements
|
|
|
398
|
Application
to Company Law Board for relief in cases of mismanagement.
|
View Judgements
|
|
|
399
|
Right
to apply under sections 397 and 398.
|
View Judgements
|
|
|
400
|
Notice
to be given to Central Government of applications under sections 397
and 398.
|
View Judgements
|
|
|
401
|
Right
of Central Government to apply under sections 397 and 398.
|
View Judgements
|
|
|
402
|
Powers
of Company Law Board on application under section 397 or 398.
|
View Judgements
|
|
|
403
|
Interim
order by Company Law Board.
|
View Judgements
|
|
|
404
|
Effect
of alteration of memorandum or articles of company by order under
section 397 or 398.
|
View Judgements
|
|
|
405
|
Addition
of respondents to application under section 397 or 398.
|
View Judgements
|
|
|
406
|
Application
of sections 539 to 544 to proceedings under sections 397 and 398.
|
View Judgements
|
|
|
407
|
Consequences
of termination or modification of certain agreements.
|
View Judgements
|
|
|
408
|
Powers
of Government to prevent oppression or mismanagement.
|
View Judgements
|
|
|
409
|
Power
of Company Law Board to prevent change in Board of Directors Likely
to affect company prejudicially.
|
View Judgements
|
|
Chapter
VII
Constitution
and Powers of Advisory Committee.
|
|
|
410
|
Appointment
of Advisory Committee.
|
View Judgements
|
|
|
411
|
Repealed.
|
View Judgements
|
|
|
412
|
Repealed.
|
View Judgements
|
|
|
413
|
Repealed.
|
View Judgements
|
|
|
414
|
Repealed.
|
View Judgements
|
|
|
415
|
Repealed.
|
View Judgements
|
|
Chapter
VIII
Miscellaneous
provisions.
|
|
|
416
|
Contracts
by agents of company in which company is undisclosed principal.
|
View Judgements
|
|
|
417
|
Employees'
securities to be deposited in post office savings Bank or in Scheduled
Bank.
|
View Judgements
|
|
|
418
|
Provision
applicable to provident funds of employees.
|
View Judgements
|
|
|
419
|
Right
of employee to see bank's receipt for moneys or securities referred
to in section 417 or 418.
|
View Judgements
|
|
|
420
|
Penalty
for contravention of section 417, 418 and 419.
|
View Judgements
|
|
|
421
|
Filing
of accounts of receivers.
|
View Judgements
|
|
|
422
|
Invoices,
etc., to refer to receiver where there is one.
|
View Judgements
|
|
|
423
|
Penalty
for non-compliance with sections 421 and 422.
|
View Judgements
|
|
|
424
|
Application
of sections 421 to 423 to receivers and managers appointed by Court
and managers appointed in pursuance of an instrument.
|
View Judgements
|
|
|
424A
|
Reference to Tribunal.
|
View Judgements
|
|
|
424B
|
Inquiry into working of sick industrial companies.
|
View Judgements
|
|
|
424C
|
Powers of Tribunal to make suitable order on completion of inquiry.
|
View Judgements
|
|
|
424D
|
Preparation and sanction of schemes.
|
View Judgements
|
|
|
424E
|
Rehabilitation by giving financial assistance.
|
View Judgements
|
|
|
424F
|
Arrangement for continuing operations, etc., during inquiry.
|
View Judgements
|
|
|
424G
|
Winding up of sick industrial company.
|
View Judgements
|
|
|
424H
|
Operating agency to prepare complete inventory, etc.
|
View Judgements
|
|
|
424I
|
Direction not to dispose of assets.
|
View Judgements
|
|
|
424J
|
Power of Tribunal to call for periodic information.
|
View Judgements
|
|
|
424K
|
Misfeasance proceedings.
|
View Judgements
|
|
|
424L
|
Penalty for certain offences.
|
View Judgements
|
|
Part
VII
Winding
Up
|
|
Chapter
I
Preliminary
|
|
|
425
|
Modes
of winding up.
|
View Judgements
|
|
|
426
|
Liability
as contributories of present and past members.
|
View Judgements
|
|
|
427
|
Obligations
of directors, managers whose liability is unlimited.
|
View Judgements
|
|
|
428
|
Definition
of "contributory".
|
View Judgements
|
|
|
429
|
Nature
of liability of contributory.
|
View Judgements
|
|
|
430
|
Contributories
in case of death of member.
|
View Judgements
|
|
|
431
|
Contributories
in case of insolvency of member.
|
View Judgements
|
|
|
432
|
Contributories
in case of winding up of a body corporate which is a member.
|
View Judgements
|
|
Chapter
II
Winding
up by the Court.
|
|
|
433
|
Circumstances
in which company may be wound up by Court.
|
View Judgements
|
|
|
434
|
Company
when deemed unable to pay its debts.
|
View Judgements
|
|
|
435
|
Transfer
of winding up proceedings to District Court.
|
View Judgements
|
|
|
436
|
Withdrawal
and transfer of winding up from one District Court to another.
|
View Judgements
|
|
|
437
|
Power
of High Court to retain winding up proceedings in District Court.
|
View Judgements
|
|
|
438
|
Jurisdiction
of High court under sections 435, 436 and 437 to be exercised at any
time and at any stage.
|
View Judgements
|
|
|
439
|
Provisions
as to applications for winding up.
|
View Judgements
|
|
|
439A |
Statement of affairs to he filed on winding up of a company.
|
View Judgements
|
|
|
440
|
Right
to present winding up petition where company is being wound up voluntarily
or subject to Court's supervision.
|
View Judgements
|
|
|
441
|
Commencement
of winding up by Court.
|
View Judgements
|
|
|
441A |
Levy and collection of cess on turnover or gross receipts of companies.
|
View Judgements
|
|
|
441B |
Crediting proceeds of cess to Consolidated Fund of India.
|
View Judgements
|
|
|
441C |
Rehabilitation Fund.
|
View Judgements
|
|
|
441D |
Application of Fund.
|
View Judgements
|
|
|
441E |
Power to call for information.
|
View Judgements
|
|
|
441F |
Penalty for non-payment of cess.
|
View Judgements
|
|
|
441G |
Refund of fund in certain cases.
|
View Judgements
|
|
|
442
|
Power
of Court to stay or restrain proceedings against Company.
|
View Judgements
|
|
|
443
|
Powers
of Court on hearing petition.
|
View Judgements
|
|
|
444
|
Order
for winding up to be communicated to Official Liquidator and Registrar.
|
View Judgements
|
|
|
445
|
Copy
of winding up order to be filed with Registrar.
|
View Judgements
|
|
|
446
|
Suits
stayed on winding up order.
|
View Judgements
|
|
|
446A |
Responsibility of directors and officers to submit to Tribunal audited books and accounts.
|
View Judgements
|
|
|
447
|
Effect
of winding up order.
|
View Judgements
|
|
|
448
|
Appointment
of Official Liquidator.
|
View Judgements
|
|
|
449
|
Official
Liquidator to be Liquidator.
|
View Judgements
|
|
|
450
|
Appointment
and powers of provisional liquidator.
|
View Judgements
|
|
|
451
|
General
provision as to liquidators.
|
View Judgements
|
|
|
452
|
Style
etc., of liquidator.
|
View Judgements
|
|
|
453
|
Receiver
not to be appointed of assets with liquidator.
|
View Judgements
|
|
|
454
|
Statement
of affairs to be made to Official Liquidator.
|
View Judgements
|
|
|
455
|
Report
by Official Liquidator.
|
View Judgements
|
|
|
456
|
Custody
of company's property.
|
View Judgements
|
|
|
457
|
Powers
of liquidator.
|
View Judgements
|
|
|
458
|
Discretion
of liquidator.
|
View Judgements
|
|
|
458A
|
Exclusion
of certain time in computing periods of limitation.
|
View Judgements
|
|
|
459
|
Provision
for legal assistance to liquidator.
|
View Judgements
|
|
|
460
|
Exercise
and control of liquidator's powers.
|
View Judgements
|
|
|
461
|
Books
to be kept by liquidator.
|
View Judgements
|
|
|
462
|
Audit
of liquidator's accounts.
|
View Judgements
|
|
|
463
|
Control
of Central Government over liquidators.
|
View Judgements
|
|
|
464
|
Appointment
and composition of committee of inspection.
|
View Judgements
|
|
|
465
|
Constitution
and proceedings of committee of inspection.
|
View Judgements
|
|
|
466
|
Power
of Court to stay winding up.
|
View Judgements
|
|
|
467
|
Settlement
of list of contributories and application of assets.
|
View Judgements
|
|
|
468
|
Delivery
of property to liquidator.
|
View Judgements
|
|
|
469
|
Payment
of debts due by contributory and extent of set-off.
|
View Judgements
|
|
|
470
|
Power
of Court to make calls.
|
View Judgements
|
|
|
471
|
Payment
into bank of moneys due to company.
|
View Judgements
|
|
|
472
|
Moneys
and securities paid into Bank to be subject to order of Court.
|
View Judgements
|
|
|
473
|
Order
on contributory to be conclusive evidence.
|
View Judgements
|
|
|
474
|
Power
to exclude creditors not proving in time.
|
View Judgements
|
|
|
475
|
Adjustment
of rights of contributories.
|
View Judgements
|
|
|
476
|
Power
to order costs.
|
View Judgements
|
|
|
477
|
Power
to summon persons suspected of having property of company. etc.
|
View Judgements
|
|
|
478
|
Power
to order public examination of promoters, directors, etc.
|
View Judgements
|
|
|
479
|
Power
to arrest absconding contributory.
|
View Judgements
|
|
|
480
|
Saving
of existing powers of Court.
|
View Judgements
|
|
|
481
|
Dissolution
of Company.
|
View Judgements
|
|
|
482
|
Order
made in any Court to be enforced by other Courts.
|
View Judgements
|
|
|
483
|
Appeals
from orders.
|
View Judgements
|
|
Chapter
III
Voluntary
winding up.
|
|
|
484
|
Circumstances
in which company may be wound up voluntarily.
|
View Judgements
|
|
|
485
|
Publication
of resolution to wind up voluntarily.
|
View Judgements
|
|
|
486
|
Commencement
of voluntary winding up.
|
View Judgements
|
|
|
487
|
Effect
of voluntary winding up on status of company.
|
View Judgements
|
|
|
488
|
Declaration
of solvency in case of proposal to wind up voluntarily.
|
View Judgements
|
|
|
489
|
Provisions
applicable to a members' voluntary winding up.
|
View Judgements
|
|
|
490
|
Power
of company to appoint and fix remuneration of Liquidators.
|
View Judgements
|
|
|
491
|
Board's
powers to cease on appointment of a liquidator.
|
View Judgements
|
|
|
492
|
Power
to fill vacancy in office of liquidator.
|
View Judgements
|
|
|
493
|
Notice
of appointment of liquidator to be given to Registrar.
|
View Judgements
|
|
|
494
|
Power
of liquidator to accept shares, etc., as consideration for sale of
property fo company.
|
View Judgements
|
|
|
495
|
Duty
of liquidator to call creditors' meeting in case of insolvency.
|
View Judgements
|
|
|
496
|
Duty
of liquidator to call general meeting at end of each year.
|
View Judgements
|
|
|
497
|
Final
meeting and dissolution.
|
View Judgements
|
|
|
498
|
Alternative
provisions as to annual and final meetings in case of insolvency.
|
View Judgements
|
|
|
499
|
Provisions
applicable to a creditors' voluntary winding up.
|
View Judgements
|
|
|
500
|
Meeting
of creditors.
|
View Judgements
|
|
|
501
|
Notice
of resolutions passed by creditors' meeting to be given to Registrar.
|
View Judgements
|
|
|
502
|
Appointment
of liquidator.
|
View Judgements
|
|
|
503
|
Appointment
of committee of inspection.
|
View Judgements
|
|
|
504
|
Fixing
of liquidators' remuneration.
|
View Judgements
|
|
|
505
|
Board's
powers to cease on appointment of liquidator.
|
View Judgements
|
|
|
506
|
Power
to fill vacancy in office of liquidator.
|
View Judgements
|
|
|
507
|
Application
of section 494 to a creditors' voluntary winding up.
|
View Judgements
|
|
|
508
|
Duty
of liquidator to call meetings of company and of creditors' at the
end of each year.
|
View Judgements
|
|
|
509
|
Final
meeting and dissolution.
|
View Judgements
|
|
|
510
|
Provisions
applicable to every voluntary winding up.
|
View Judgements
|
|
|
511
|
Distribution
of property of company.
|
View Judgements
|
|
|
511A
|
Application
of section 454 to voluntary winding up.
|
View Judgements
|
|
|
512
|
Powers
and duties of liquidator in voluntary winding up.
|
View Judgements
|
|
|
513
|
Body
corporate not to be appointed as liquidator.
|
View Judgements
|
|
|
514
|
Corrupt
inducement affecting appointment as liquidator.
|
View Judgements
|
|
|
515
|
Power
of Court to appoint and remove liquidator in voluntary winding up.
|
View Judgements
|
|
|
516
|
Notice
by liquidator of his appointment.
|
View Judgements
|
|
|
517
|
Arrangement
when binding on company and creditors.
|
View Judgements
|
|
|
518
|
Power
to apply to Court to have questions determined or powers exercised.
|
View Judgements
|
|
|
519
|
Application
of Liquidator to Court for public examination of promoters, directors,
etc.
|
View Judgements
|
|
|
520
|
Costs
of voluntary winding up.
|
View Judgements
|
|
|
521
|
Repealed.
|
View Judgements
|
|
Chapter
IV
Winding
up subject to supervision of Court.
|
|
|
522
|
Power to order winding up subject to supervision.
|
View Judgements
|
|
|
523
|
Effect of petition for winding up subject to supervision.
|
View Judgements
|
|
|
524
|
Power of Court to appoint or remove liquidators.
|
View Judgements
|
|
|
525
|
Powers and obligations of liquidator appointed by Court.
|
View Judgements
|
|
|
526
|
Effect of supervision order.
|
View Judgements
|
|
|
527
|
Appointment in certain cases of voluntary liquidators
to office of liquidators.
|
View Judgements
|
|
Chapter
V
Provisions
applicable to every mode of Winding up
|
|
|
528
|
Debts of all descriptions to be admitted to proof.
|
View Judgements
|
|
|
529
|
Application of insolvency rules in winding up of insolvent
companies.
|
View Judgements
|
|
|
529A |
Overriding preferential payments.
|
View Judgements
|
|
|
530
|
Preferential payments.
|
View Judgements
|
|
|
531
|
Fraudulent preference.
|
View Judgements
|
|
|
531A
|
Avoidance of voluntary transfer.
|
View Judgements
|
|
|
532
|
Transfers for benefit of all creditors to be void.
|
View Judgements
|
|
|
533
|
Liabilities and rights of certain fraudulently preferred
persons.
|
View Judgements
|
|
|
534
|
Effect of floating charge.
|
View Judgements
|
|
|
535
|
Disclaimer of onerous property in case of a company which
is being wound up.
|
View Judgements
|
|
|
536
|
Avoidance of transfers, etc., after commencement of winding
up.
|
View Judgements
|
|
|
537
|
Avoidance of certain attachments, executions, etc., in
winding up by or subject to supervision of Court.
|
View Judgements
|
|
|
538
|
Offences by officers of companies in liquidation.
|
View Judgements
|
|
|
539
|
Penalty for falsification of books.
|
View Judgements
|
|
|
540
|
Penalty for frauds by officers.
|
View Judgements
|
|
|
541
|
Liability where proper accounts not kept.
|
View Judgements
|
|
|
542
|
Liability for fraudulent conduct of business.
|
View Judgements
|
|
|
543
|
Power of Court to assess damages against delinquent directors,
etc.
|
View Judgements
|
|
|
544
|
Liability under sections 542 and 543 to extend to partners
or directors in firm or company.
|
View Judgements
|
|
|
545
|
Prosecution of delinquent officers and members of company.
|
View Judgements
|
|
|
546
|
Liquidator to exercise certain powers subject to sanction.
|
View Judgements
|
|
|
547
|
Notification that a company is in liquidation.
|
View Judgements
|
|
|
548
|
Books and papers of company to be evidence.
|
View Judgements
|
|
|
549
|
Inspection of books and papers by creditors and contributories.
|
View Judgements
|
|
|
550
|
Disposal of books and papers of company.
|
View Judgements
|
|
|
551
|
Information as to pending liquidations.
|
View Judgements
|
|
|
552
|
Official Liquidator to make payments in to the public
account of India.
|
View Judgements
|
|
|
553
|
Voluntary Liquidator to make payments into Scheduled Bank.
|
View Judgements
|
|
|
554
|
Liquidator not to pay moneys into private banking account.
|
View Judgements
|
|
|
555
|
Unpaid dividends and undistributed assets to be paid into
the Companies liquidation Account.
|
View Judgements
|
|
|
556
|
Enforcement of duty of liquidator to make returns, etc.
|
View Judgements
|
|
|
557
|
Meetings to ascertain wishes of creditors or contributories.
|
View Judgements
|
|
|
558
|
Court or person before whom affidavit may be sworn.
|
View Judgements
|
|
|
559
|
Power of Court to declare dissolution of company void.
|
View Judgements
|
|
|
560
|
Power of Registrar to strike defunct company off register.
|
View Judgements
|
|
Part
VIII
Application
of Act to companies formed or registered under previous Companies
Laws.
|
|
|
561 |
Application of Act to companies formed and registered
under previous companies laws.
|
View Judgements
|
|
|
562 |
Application of Act to companies registered but not formed
under previous companies laws.
|
View Judgements
|
|
|
563 |
Application of Act to unlimited companies registered under previous companies laws.
|
View Judgements
|
|
|
564 |
Mode of transferring shares in the case of companies registered
under Acts XIX of 1857 and VII of 1860.
|
View Judgements
|
|
Part
IX
Companies
Authorised to register under this Act.
|
|
|
565
|
Companies capable of being registered.
|
View Judgements
|
|
|
566
|
Definition of "Joint-stock company".
|
View Judgements
|
|
|
567
|
Requirements for registration of joint-stock companies.
|
View Judgements
|
|
|
568
|
Requirements for registration of companies not being joint
stock companies.
|
View Judgements
|
|
|
569
|
Authentication of statements of existing companies.
|
View Judgements
|
|
|
570
|
Power of Registrar to require evidence as to nature of
company.
|
View Judgements
|
|
|
571
|
Notice to customers on registration of banking company
with limited liability.
|
View Judgements
|
|
|
572
|
Change of name for purposes of registration.
|
View Judgements
|
|
|
573
|
Addition of "Limited" or "Private Limited" to name.
|
View Judgements
|
|
|
574
|
Certificate of registration of existing companies.
|
View Judgements
|
|
|
575
|
Vesting of property on registration.
|
View Judgements
|
|
|
576
|
Saving for existing liabilities.
|
View Judgements
|
|
|
577
|
Continuation of pending legal proceedings.
|
View Judgements
|
|
|
578
|
Effect of registration under Part.
|
View Judgements
|
|
|
579
|
Power to substitute memorandum and articles for deed of
settlement.
|
View Judgements
|
|
|
580
|
Power of Court to stay or restrain proceedings.
|
View Judgements
|
|
|
581
|
Suits stayed on winding up order.
|
View Judgements
|
|
|
581A |
Definitions.
|
View Judgements
|
|
|
581B |
Objects of Producer Company.
|
View Judgements
|
|
|
581C |
Formation of Producer Company and its registration.
|
View Judgements
|
|
|
581D |
Membership and voting rights of Members of Producer Company.
|
View Judgements
|
|
|
581E |
Benefits to Members.
|
View Judgements
|
|
|
581F |
Memorandum of Producer Company.
|
View Judgements
|
|
|
581G |
Articles of association.
|
View Judgements
|
|
|
581H |
Amendment of memorandum.
|
View Judgements
|
|
|
581I |
Amendment of articles.
|
View Judgements
|
|
|
581J |
Option to inter-State co-operative societies to become Producer Companies.
|
View Judgements
|
|
|
581K |
Effect of incorporation of Producer Company.
|
View Judgements
|
|
|
581L |
Vesting of undertaking in Producer Company.
|
View Judgements
|
|
|
581M |
Concession, etc., to be deemed to have been granted to Producer Company.
|
View Judgements
|
|
|
581N |
Provisions in respect of officers and other employees of inter-Stale co-operative society.
|
View Judgements
|
|
|
581O |
Number of directors.
|
View Judgements
|
|
|
581P |
Appointment of directors.
|
View Judgements
|
|
|
581Q |
Vacation of office by directors.
|
View Judgements
|
|
|
581R |
Powers and functions of Board.
|
View Judgements
|
|
|
581S |
Matters to be transacted at general meeting.
|
View Judgements
|
|
|
581T |
Liability of directors.
|
View Judgements
|
|
|
581U |
Committee of directors.
|
View Judgements
|
|
|
581V |
Meetings of Board and quorum.
|
View Judgements
|
|
|
581W |
Meetings of Board and quorum.
|
View Judgements
|
|
|
581X |
Secretary of Producer Company.
|
View Judgements
|
|
|
581Y |
Quorum.
|
View Judgements
|
|
|
581Z |
Voting rights.
|
View Judgements
|
|
|
581ZA |
Annual general meetings.
|
View Judgements
|
|
|
581ZB |
Share capital.
|
View Judgements
|
|
|
581ZC |
Special user rights.
|
View Judgements
|
|
|
581ZD |
Transferability of shares and attendant rights.
|
View Judgements
|
|
|
581ZE |
Books of account.
|
View Judgements
|
|
|
581ZF |
Internal audit.
|
View Judgements
|
|
|
581ZG |
Duties of auditor under this Part.
|
View Judgements
|
|
|
581ZH |
Donations or subscription by Producer Company.
|
View Judgements
|
|
|
581ZI |
General and other reserves.
|
View Judgements
|
|
|
581ZJ |
Issue of bonus shares.
|
View Judgements
|
|
|
581ZK |
Loan, etc., to Members.
|
View Judgements
|
|
|
581ZL |
Investment in other companies, formation of subsidiaries, etc.
|
View Judgements
|
|
|
581ZM |
Penalty for contravention.
|
View Judgements
|
|
|
581ZN |
Amalgamation, merger or division, etc., to form new Producer Companies .
|
View Judgements
|
|
|
581ZO |
Disputes.
|
View Judgements
|
|
|
581ZP |
Strike off name of Producer Company.
|
View Judgements
|
|
|
581ZQ |
Provisions of this Part to override other laws.
|
View Judgements
|
|
|
581ZR |
Application of provisions relating to private companies.
|
View Judgements
|
|
|
581ZS |
Reconversion of Producer Company to inter-State co-operative society.
|
View Judgements
|
|
|
581ZT
|
Power to modify Act in its application to Producer Companies.
|
View Judgements
|
|
Part
X
Winding
up of Unregistered companies.
|
|
|
582
|
Meaning of "unregistered company".
|
View Judgements
|
|
|
583
|
Winding up of unregistered companies.
|
View Judgements
|
|
|
584
|
Power to wind up foreign companies, although dissolved.
|
View Judgements
|
|
|
585
|
Contributories in winding up of unregistered company.
|
View Judgements
|
|
|
586
|
Power to stay or restrain proceedings.
|
View Judgements
|
|
|
587
|
Suits, etc., stayed on winding up order.
|
View Judgements
|
|
|
588
|
Directions as to property in certain cases.
|
View Judgements
|
|
|
589
|
Provisions of Part cumulative.
|
View Judgements
|
|
|
590
|
Saving and construction of enactments conferring power
to wind up partnership, association or company in certain cases.
|
View Judgements
|
|
Part
XI
Companies
incorporated outside India
|
|
|
591
|
Application of sections 592 to 602 to foreign companies.
|
View Judgements
|
|
|
592
|
Documents etc. ,to be delivered to Registrar by foreign
companies carrying on business in India.
|
View Judgements
|
|
|
593
|
Return to be delivered to Registrar by foreign company
where documents, etc., altered.
|
View Judgements
|
|
|
594
|
Accounts of foreign company.
|
View Judgements
|
|
|
595
|
Obligation to state name of foreign company, whether limited,
and country where incorporated.
|
View Judgements
|
|
|
596
|
Service on foreign company.
|
View Judgements
|
|
|
597
|
Office where documents to be delivered.
|
View Judgements
|
|
|
598
|
Penalties.
|
View Judgements
|
|
|
599
|
Company's failure to comply with Part not to affect its
liability under contracts, etc.
|
View Judgements
|
|
|
600
|
Registration of charges, appointment of receiver
and books of account.
|
View Judgements
|
|
|
601
|
Fees for registration of documents under Part.
|
View Judgements
|
|
|
602
|
Interpretation of foregoing sections of Part.
|
View Judgements
|
|
|
603
|
Dating of prospectus and particulars to be contained therein.
|
View Judgements
|
|
|
604
|
Provisions as to expert's consent and allotment.
|
View Judgements
|
|
|
605
|
Registration of prospectus.
|
View Judgements
|
|
|
605A |
Offer of Indian Depository Receipts.
|
View Judgements
|
|
|
606
|
Penalty for contravention of sections 603, 604 and 605.
|
View Judgements
|
|
|
607
|
Civil liability for misstatements in prospectus.
|
View Judgements
|
|
|
608
|
Interpretation of provisions as to prospectuses.
|
View Judgements
|
|
Part
XII
Registration
offices and officers and fees
|
|
|
609
|
Registration Offices.
|
View Judgements
|
|
|
610
|
Inspection, production and evidence of documents kept
by Registrar.
|
View Judgements
|
|
|
610A |
Admissibility of micro films, facsimile copies of documents, computer printouts and documents on computer media as documents and as evidence.
|
View Judgements
|
|
|
611
|
Fees in Schedule X to be paid.
|
View Judgements
|
|
|
612
|
Fees, etc., paid to Registrar and other officers
to be accounted for to Central Government.
|
View Judgements
|
|
|
613
|
Power of Central Government to reduce fees, charges, etc.
|
View Judgements
|
|
|
614
|
Enforcement of duty of company to make returns,, etc.,
to Registrar.
|
View Judgements
|
|
|
614A
|
Power of Court trying offences under the Act to direct
the filing of documents with Registrar.
|
View Judgements
|
|
Part
XIII
General
|
|
|
615
|
Power of Central Government to direct companies to furnish
information or statistics.
|
View Judgements
|
|
|
616
|
Application of Act to insurance, banking, electricity
supply and other companies governed by special Acts.
|
View Judgements
|
|
|
617
|
Definition of "Government Company".
|
View Judgements
|
|
|
618
|
Government Companies not to have managing agents.
|
View Judgements
|
|
|
619
|
Application of sections 224 to 233 to Government Companies.
|
View Judgements
|
|
|
619A
|
Annual reports on Government Companies.
|
View Judgements
|
|
|
619B
|
Provisions of section 619 to apply to certain companies.
|
View Judgements
|
|
|
620
|
Power to modify Act in relation to Government Companies.
|
View Judgements
|
|
|
620A
|
Power to modify Act in its application to Nidhis, etc.
|
View Judgements
|
|
|
620B
|
Special provisions as to companies in Goa, Daman and
Diu.
|
View Judgements
|
|
|
620C
|
Special provisions as to companies in Jammu and Kashmir.
|
View Judgements
|
|
|
621
|
Offences against Act to be cognizable only on complaint
by Registrar, shareholder or Government.
|
View Judgements
|
|
|
621A
|
Composition of certain offences.
|
View Judgements
|
|
|
622
|
Jurisdiction to try offences.
|
View Judgements
|
|
|
623
|
Certain offences triable summarily in Presidency towns.
|
View Judgements
|
|
|
624
|
Offences to be non-cognizable.
|
View Judgements
|
|
|
624A
|
Power to Central Government to appoint company prosecutors.
|
View Judgements
|
|
|
624B
|
Appeal against acquittal.
|
View Judgements
|
|
|
625
|
Payment of compensation in case of frivolous or vexatious
prosecution.
|
View Judgements
|
|
|
626
|
Application of fines.
|
View Judgements
|
|
|
627
|
Production and inspection of books where offences suspected.
|
View Judgements
|
|
|
628
|
Penalty for false statements.
|
View Judgements
|
|
|
629
|
Penalty for false evidence.
|
View Judgements
|
|
|
629A
|
Penalty where no specific penalty is provided elsewhere
in the Act.
|
View Judgements
|
|
|
630
|
Penalty for wrongful withholding of property.
|
View Judgements
|
|
|
631
|
Penalty for improper use of words "Limited"
and "Private Limited".
|
View Judgements
|
|
|
632
|
Power to require limited company to give security for
costs.
|
View Judgements
|
|
|
633
|
Power of Court to grant relief in certain cases.
|
View Judgements
|
|
|
634
|
Enforcement of orders of Courts.
|
View Judgements
|
|
|
634A
|
Enforcement of orders of Company Law Board.
|
View Judgements
|
|
|
635
|
Enforcement of orders of one Court by other Courts.
|
View Judgements
|
|
|
635A
|
Protection of acts done in good faith.
|
View Judgements
|
|
|
635AA
|
Non-disclosure of information in certain cases.
|
View Judgements
|
|
|
635B
|
Protection of employees during investigation by inspector
or pendency of proceeding before Court in certain cases.
|
View Judgements
|
|
|
636
|
Reduction of fees, charges, etc., payable to company.
|
View Judgements
|
|
|
637
|
Delegation by Central Government of its powers and functions
under Act.
|
View Judgements
|
|
|
637A
|
Power of Central Government or Company Law Board to accord
approval, etc., subject to conditions and to prescribe fees on applications.
|
View Judgements
|
|
|
637AA
|
Power of Central Government to fix a limit with regard
to remuneration.
|
View Judgements
|
|
|
637B
|
Condonation of delays in certain cases.
|
View Judgements
|
|
|
638
|
Annual report by Central Government.
|
View Judgements
|
|
|
639
|
Repealed.
|
View Judgements
|
|
|
640
|
Validation of registration of firms as members of charitable
and other companies.
|
View Judgements
|
|
|
640A
|
Exclusion of time required in obtaining copies of order
of Court or the Company Law Board.
|
View Judgements
|
|
|
640B
|
Forms of, and procedure in relation to certain applications.
|
View Judgements
|
|
|
641
|
Power to alter Schedules.
|
View Judgements
|
|
|
642
|
Power of Central Government to make rules.
|
View Judgements
|
|
|
643
|
Power of Supreme Court to make rules.
|
View Judgements
|
|
|
644
|
Repeal of Acts specified in Schedule XII.
|
View Judgements
|
|
|
645
|
Saving of orders, rules, etc., in force at commencement
of Act.
|
View Judgements
|
|
|
|