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Friday, February 25, 2011

Section 543 of the Companies Act - preference

Under S 543 of the Companies Act only a member or a creditor could make an application, not the Government (SFIO).
While SFIO can approach the board under Section 401, but it has to show ingredients necessary for 397/398.


Pradeep Vakil v. Union of India, [2011] 161 Comp Cas 231 (CLB - Mum)

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