Companies Act, 1956

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Section 367   [ View Judgements ]

Managing agent's rights and liabilities after termination of office.


367. MANAGING AGENT'S RIGHTS AND LIABILITIES AFTER TERMINATION OF OFFICE.

Where the office of a managing agent ceases or is terminated -

(a) the managing agent and the company shall be entitled to enforce any claim or demand which each may have against the other, in respect of anything done or omitted to be done by either of them before the cessation or termination of the managing agency; and

(b) the rights and liabilities, in relation to the company, of the managing agent in any other capacity, shall not be affected.

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