Section - 409 - Power of Tribunal to prevent change in Board of Directors likely to affect company prejudicially
Power of[Tribunal] to prevent change in Board of directors likely to affect company prejudicially.409. (1) Where a complaint is made to the [Tribunal] by the managing director or any other director [***] or the manager of a company that as a result of a change which has taken place or is likely to take place in the ownership of any shares held in the company, a change in the Board of directors is likely to take place which (if allowed) would affect prejudicially the affairs of the company, the [Tribunal] may, if satisfied, after such inquiry as it thinks fit to make that it is just and proper so to do, by order, direct that [no resolution passed or that may be passed or no action taken or that may be taken] to effect a change in the Board of directors after the date of the complaint shall have effect unless confirmed by the [TribunalGoogle Play store
CAclubindia
