valid as on 17/10/2018

Section 428. Protection of action taken in good faith
Notified on 01-06-2016

No suit, prosecution or other legal proceeding shall lie against the , the President, , or other employee, or against the , the Chairperson, Member, officer or other employees thereof or liquidator or any other person authorised by the Tribunal or the Appellate Tribunal for the discharge of any function under this Act in respect of any loss or damage caused or likely to be caused by any act which is in good faith done or intended to be done in pursuance of this Act.

2(90) Tribunal means the National Company Law Tribunal constituted under section 408
2(55) Member, in relation to a company, means—

(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;

(ii) every other person who agrees in writing to become a member of the company and whose name is entered in the register of members of the company;

(iii) every person holding shares of the company and whose name is entered as a beneficial owner in the records of a depository

2(59) Officer includes any director, manager or key managerial personnel or any person in accordance with whose directions or instructions the Board of Directors or any one or more of the directors is or are accustomed to act
2(4) Appellate Tribunal means the National Company Law Appellate Tribunal constituted under section 410

Enforcement Notification S.O. 1934(E) dated 01/06/2016


CAIRR PLUS on Google Playsecretarial automation?