Section Text
1) Any members of a company who complain 3 (93) 93. Prescribed fees is Rs. 5,000. -
(a) that the affairs of the company 3 (92) 92. Substituted for "are being conducted" by the Companies (Amendment) Act, 1963, w.e.f. 1/1/1964. [are being conducted in a manner prejudicial to public interest or] in a manner prejudicial to the interests of the company; or (b) that a material change (not being a change brought about by, or in the interests of, any creditors including debenture holders, or any class of shareholders, of the company) has taken place in the management or control of the company, whether by an alteration in its Board of directors 3 (94) 94. Words" or of its managing agent or secretaries and treasurers" omitted by the Companies (Amendment) Act 2000 w.e.f. 13 12 2000 [***] 3 (95) 95. Inserted by the Companies (Amendment) Act 1960 [or manager] 3 (96) 96. Words " or in the constitution or control of the firm or body corporate acting as its managing agent or secretaries and treasurers" omitted by the Companies (Amendment) Act 2000 w.e.f. 13 12 2000 [***] or in the ownership of the company's shares, or if it has no share capital, in its membership, or in any other manner whatsoever, and that by reason of such change, it is likely that the affairs of the company 3 (97) 97. Substituted for "will be conducted" by the Companies (Amendment) Act 1963 w.e.f. 1 1 1964 [will be conducted m a manner prejudicial to public interest or] in a manner prejudicial to the interests of the company, may apply to the [Tribunal] for an order under this section, provided such members have a right so to apply in virtue of (section 399) (2) If, on any application under sub-section (1), the [Tribunal] is of opinion that the affairs of the company are being conducted as aforesaid or that by reason of any material change as aforesaid in the management or control of the company, it is likely that the affairs of the company will be conducted as aforesaid, the [Tribunal] may, with a view to bringing to an end or preventing the matters complained of or apprehended, make such order as it thinks fit