Section - 424J - Power of Tribunal to call for periodic information
Power of Tribunal to call for periodic information.424J. On receipt of reference under , the Tribunal may call for any periodic information from the company as to the steps taken by the company to make its net worth exceed the accumulated losses or to make repayment of its debts referred to in that section, as the case may be, and the company shall furnish such information.
[PART VIAREVIVAL AND REHABILITATION OF SICK INDUSTRIAL COMPANIESReference to Tribunal.424A. (1) Where an industrial company, has become a sick industrial company, the Board of directors of such company shall make a reference to the Tribunal, and prepare a scheme of its revival and rehabilitation and submit the same to the Tribunal along with an application containing such particulars as may be prescribed, for determination of the measures which may be adopted with respect to such company:Providedthat nothing contained in this sub-section shall apply to a Government company:< .... To read the full section download the app from Google Play store
CAclubindia
