Section 241 Companies Act 2013 provides relief from OPPRESSION AND MIS…

Question

Section 241 Companies Act 2013 provides relief from OPPRESSION AND MISMANAGEMENT. An application may be made to the NCLT by:

Accepted Answer

A. any member of the company complaining of company's affairs conducted in a manner prejudicial / oppressive to any member(s) or to public interest, or with material change prejudicial to the interest of the company

1. Section 241(1) Companies Act 2013 enables a member to apply to the NCLT for relief if the affairs of the company are being conducted: (a) in a manner prejudicial / oppressive to any member or members, or prejudicial to public interest; OR (b) in a manner prejudicial to the interests of the company; OR if a MATERIAL CHANGE has taken place in the management or control of the company.
2. Section 241(2): Central Government may also apply.
3. Section 244 prescribes the locus: 100 members or 10% of total members (whichever is less) for companies with share capital; or members holding not less than 1/10 of the issued share capital, with each having paid all calls.
4. NCLT powers under Section 242 are wide (regulation of conduct, purchase of shares, termination of agreements, etc.).
5. Hence option B is correct.
_Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 241_

Answer

any creditor of the company having any outstanding amount due as on the date of application (cf. Companies Act 2013, Section 241) (cf. Companies Act 2013, Section 241) (cf. Companies Act 2013, Section 241)

Answer

any employee of the company in respect of unpaid wages alone, irrespective of share holding (cf. Companies Act 2013, Section 241) (cf. Companies Act 2013, Section 241) (cf. Companies Act 2013, Section 241)

Answer

only the Registrar of Companies on his own motion in any company (cf. Companies Act 2013, Section 241) (cf. Companies Act 2013, Section 241) (cf. Companies Act 2013, Section 241)