Question

Write short answers for the following :
Write the functions of the 'Company Law Board'?

Answer 1

It gives extensive powers to the Central Government and the Company Law Board to intervene directly in affairs of a company in public interest, in recognition of the fact that a public company should be regarded as a national asset and not as something of exclusive concern to the shareholders or the directors

PROCEEDINGS BEFORE THE COMPANY LAW BOARD. The Company Law Board is an independent quasi-judicial body in India which has powers to overlook the behaviour of companies within the Company Law.The same is the object behind constitution of BIFR and section 391 to 394 of Companies Act, 1956.