Companies Act, 1956
Section - 407 - Consequences of termination or modification of certain agreements
Consequences of termination or modification of certain agreements.407. (1) Where an order [***] made under section or terminates, sets aside, or modifies an agreement such as is referred to in clause (d) or (e) of section ,— (a) the order shall not give rise to any claim whatever against the company by any person for damages or for compensation for loss of office or in any other respect, either in pursuance of the agreement or otherwise; (b) no managing or other director [***] or manager whose agreement is so terminated or set aside [***] shall, for a period of five years from the date of [the order te .... To read the full section download the app from Google Play store
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