Section - 388B - Companies Act, 1956

Section - 388B - Reference to Tribunal of cases against managerial personnel

[CHAPTER IVA

POWERS OF CENTRAL GOVERNMENT TO REMOVE MANAGERIAL PERSONNEL FROM OFFICE ON THE RECOMMENDATION OF THE

[TRIBUNAL]

[Reference to

[Tribunal] of cases against managerial personnel.

388B. (1) Where in the opinion of the Central Government there are circumstances suggesting—

(a) that any person concerned in the conduct and management of the affairs of a company is or has been in connection therewith guilty of fraud, misfeasance, persistent negligence or default in carrying out his obligations and functions under the law, or breach of trust; or

(b) that the business of a company is not or has not been conducted and managed by such person in accordance with sound business principles or prudent commercial practices; or.... To read the full section download the app from Google Play store