Section 284(7) of Companies Act 1956.
This query is : Resolved
28 December 2009
Can any one explain me the meaning of the following Sub section 284(7) (Removal of Director) of Companies Act 1956.
(7) Nothing in this section shall be taken -
(a) as depriving a person removed there under of any compensation or damages payable to him in respect of the termination of his appointment as director or of any appointment terminating with that as director; or
(b) as derogating from any power to remove a director which may exist apart from this section.
(7) Nothing in this section shall be taken -
(a) as depriving a person removed there under of any compensation or damages payable to him in respect of the termination of his appointment as director or of any appointment terminating with that as director; or
(b) as derogating from any power to remove a director which may exist apart from this section.
28 December 2009
It means if your director is eligible for compensation u/s 318 then he may go ahead and company may pay compensation.
However section 284(7) can not overrule section 318.
Read section 318 carefully to understand the connectivity of both the sections.
Regards
However section 284(7) can not overrule section 318.
Read section 318 carefully to understand the connectivity of both the sections.
Regards
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