Hi
What is diff btwn sec 250 & 409 of the companies Act as both related "CHANGE IN COMPOSITION OF BOD"
what is major diff in both section
plz guide me
1 Replies
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 14 January 2011
section 250- tribunal may by its own course or by refernce made to or by complaint, will impose restrictions on tsfr of shares which result in composition of BOD- reason- such change would be prejudicial to publc interest
section 409- complaint made by MD/other director/manager- change in BOD should affect prejudicially affairs of the company
Please refer above to items in italics and bold, the major differences
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