Section 16(4) in The Sick Industrial Companies (Special Provisions) Act, 1985
(4)Where the Board deems it fit to make an inquiry or to cause an inquiry to be made into any industrial company under sub-section (1) or, as the case may be, under sub-section (2), [it may appoint] [ Substituted by Act 12 of 1994, Section 5, for " it shall appoint" (w.e.f. 1.2.1994).] one or more persons to be a special director or special directors of the company for safeguarding the financial and other interests of the company or in the public interest.[(4-A) The Board may issue such directions to a special director appointed under sub-section (4) as it may deem necessary or expedient for proper discharge of his duties.] [Inserted by Act 12 of 1994, Section 5 (w.e.f. 1.2.1994). ]
