If the Company is agrieved by the Central Government order on managerial remuneration u/s 309, 269 of Companies Act, then what is the appellate forum under the Companies Act.
Rgds,
Ranjan
Ranjan (Service) 17 April 2009
If the Company is agrieved by the Central Government order on managerial remuneration u/s 309, 269 of Companies Act, then what is the appellate forum under the Companies Act.
Rgds,
Ranjan
Ranjan (Service) 21 April 2009
I guess it should be to the High Court having jurisdiction over the registered office of the Company as per section 10 (1) of Companies Act. Solicit yours opinion.
Rgds
Ranjan
PC Agrawal (PCS) 16 June 2009
Dear friends,
No specific authority has been prescribed in the Act for appeal against such orders of the Central govt. It has been held by courts in various cases that all disputes under the Act should be referred to the civil courts only unless the Act specifically conferred jurisdiction on co. court defined u/s 2(11) read with Sec.10, or some other authority. Hence I feel this matter will have to be referred to civil court.
Regards,