Section 237 of Companies Act
Querist :
Anonymous
(Querist) 15 February 2010
This query is : Resolved
If on application for investigation of an Insurance Co. u/s 237 of Companies Act, the Central Govt. do not take any action, What are the remedies available? Do High Court may order for the same?
Heaven 2011
(Expert) 01 March 2010
Section 237 of the Companies Act is a mandatory provision and the Central Govt cannot refuse it. Your quary though is not clear. The only requirement is to pass a valid resolution.The Central Govt ca not excercise its discration so long a vaild resolution is passed. The scope of the investigation would be limited in the areas covered in the resolution. Of course you will have the remedy. You may apply to the court having the appropriate jurisdiction to obtain the court order directing the central govt to do so.
