What is Power of court to grant relief in certain cases? What is Prohibition of association or partnership of persons exceeding certain number? Section 463 and 464 of Indian Companies Act 2013

Power of court to grant relief in certain cases and Prohibition of association or partnership of persons exceeding certain number are defined under Section 463  and 464 of Indian Companies Act 2013. Provisions under these Sections are:

Section 463 of Indian Companies Act 2013 "Power of court to grant relief in certain cases"

(1) If in any proceeding for negligence, default, breach of duty, misfeasance or breach of trust against an officer of a company, it appears to the court hearing the case that he is or may be liable in respect of the negligence, default, breach of duty, misfeasance or breach of trust, but that he has acted honestly and reasonably, and that having regard to all the circumstances of the case, including those connected with his appointment, he ought fairly to be excused, the court may relieve him, either wholly or partly, from his liability on such term, as it may think fit:

 

Provided that in a criminal proceeding under this sub-section, the court shall have no power to grant relief from any civil liability which may attach to an officer in respect of such negligence, default, breach of duty, misfeasance or breach of trust.

(2) Where any such officer has reason to apprehend that any proceeding will or might be brought against him in respect of any negligence, default, breach of duty, misfeasance or breach of trust, he may apply to the High Court for relief and the High Court on such application shall have the same power to relieve him as it would have had if it had been a court before which a proceedings against that officer for negligence, default, breach of duty, misfeasance or breach of trust had been brought under sub-section (1).

(3) No court shall grant any relief to any officer under sub-section (1) or sub-section (2) unless it has, by notice served in the manner specified by it, required the Registrar and such other person, if any, as it thinks necessary, to show cause why such relief should not be granted.

Section 464 of Indian Companies Act 2013 "Prohibition of association or partnership of persons exceeding certain number"

(1) No association or partnership consisting of more than such number of persons as may be prescribed shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the association or partnership or by the individual members thereof, unless it is registered as a company under this Act or is formed under any other law for the time being in force:

Provided that the number of persons which may be prescribed under this sub-section shall not exceed one hundred.

(2) Nothing in sub-section (1) shall apply to -

(a) a Hindu undivided family carrying on any business; or

(b) an association or partnership, if it is formed by professionals who are governed by special Acts.

(3) Every member of an association or partnership carrying on business in contravention of sub-section (1) shall be punishable with fine which may extend to one lakh rupees and shall also be personally liable for all liabilities incurred in such business.

What is Annual report by Central Government? What are Power to exempt class or classes of companies from provisions of this Act? Section 461 and 462 of Indian Companies Act 2013

What is Power of court to grant relief in certain cases? What is Prohibition of association or partnership of persons exceeding certain number? Section 463 and 464 of Indian Companies Act 2013

What is Repeal of certain enactments and savings? Section 465 of Indian Companies Act 2013

What is Dissolution of Company Law Board and consequential provisions? What are the Power of Central Government to amend Schedules? Section 466 and 467 of Indian Companies Act 2013

What are Powers of Central Government to make rules relating to winding up? What is Power of Central Government to make rules? What is Power to remove difficulties? Section 468, 469 and 470 of Indian Companies Act 2013

 

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