Section 246 of Companies Act, 2013 – Application of certain provisions to proceedings under section 241 or section 245
SECTION 246. APPLICATION OF CERTAIN PROVISIONS TO PROCEEDINGS UNDER SECTION 241 OR SECTION 245 [Effective from 9th September, 2016] The provisions of sections 337 to 341 (both inclusive) shall apply mutatis mutandis, in relation to an application made to the Tribunal under section 241 or section 245. Read More
Section 245 of Companies Act, 2013 – Class action
SECTION 245. CLASS ACTION [Effective from 1st June 2016] (1) Such number of member or members, depositor or depositors or any class of them, as the case may be, as are indicated in sub-section (2) may, if they are of the opinion that the management or conduct of the affairs of the company are being… Read More
Section 244 of Companies Act, 2013 – Right to apply under section 241
SECTION 244. RIGHT TO APPLY UNDER SECTION 241 [Effective from 1st June 2016] (1) The following members of a company shall have the right to apply under section 241, namely:— (a) in the case of a company having a share capital, not less than one hundred members of the company or not less than one-tenth… Read More
Section 243 of Companies Act, 2013 – Consequence of termination or modification of certain agreements
SECTION 243. CONSEQUENCE OF TERMINATION OR MODIFICATION OF CERTAIN AGREEMENTS [Effective from 1st June 2016] (1) Where an order made under section 242 terminates, sets aside or modifies an agreement such as is referred to in sub-section (2) of that section,— (a) such order shall not give rise to any claims whatever against the company… Read More
Section 242 of Companies Act, 2013 – Powers of Tribunal
SECTION 242. POWERS OF TRIBUNAL [Effective from 1st June, 2016 except clause (b) of sub-section (1), clause (c) & (g) of sub-section (2)] [Clause (b) of sub-section (1), clause (c) & (g) of sub-section (2) effective from 9th September, 2016] (1) If, on any application made under section 241, the Tribunal is of the opinion— (a) that… Read More
Section 241 of Companies Act, 2013 – Application to Tribunal for relief in cases of oppression, etc.
SECTION 241. APPLICATION TO TRIBUNAL FOR RELIEF IN CASES OF OPPRESSION, ETC. [Effective from 1st June, 2016] (1) Any member of a company who complains that— (a) the affairs of the company have been or are being conducted in a manner prejudicial to public interest or in a manner prejudicial or oppressive to him or… Read More
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