Section 388C   [ View Judgements ]

Interim order by Company Law Board.

388C. Interim order by Tribunal.
1 [Interim order by Tribunal
 (1) Where during the pendency of a case before the Tribunal it appears necessary to the Tribunal so to do in the interest of the members or creditors of the company or in the public interest, the Tribunal may on the application of the Central Government or on its own motion, by an order-

(a) direct that the respondent shall not discharge any of the duties of his office until further orders of the Tribunal, and

(b) appoint a suitable person in place of the respondent to discharge the duties of the office held by the respondent subject to such terms and conditions as the Tribunal may specify in the order.

(2) Every person appointed under clause (b) of sub-section (1) shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code (45 of 1860).]

1. Inserted by Companies (AMENDMENT) Act, 1963 wef. 1/1/1964

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