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[Cites 0, Cited by 0] [Section 388B(1)] [Section 388B] [Entire Act]

Union of India - Subsection

Section 388B(1)(d) in The Companies Act, 1956

(d)that the business of a company is or has been conducted and managed by such person with intent to defraud its creditors, members or any other persons or otherwise for a fraudulent or unlawful purpose or in a manner prejudicial to public interest, the Central Government may state a case against the person aforesaid and refer the same to the [Tribunal] [Substituted by Act 11 of 2003, Section 38, for " Company Law Board" . ] with a request that the [Tribunal] [Substituted by Act 11 of 2003, Section 38, for " Company Law Board" . ] may inquire into the case and [record a decision] [ Substituted by Act 17 of 1967, Section 4 and Schedule, for " record a finding" (w.e.f. 1.7.1967).] as to whether or not such person is a fit and proper person to hold the office of Director or any other office connected with the conduct and management of any company.