Amended and updated notes on section 428 of Companies Act 2013. Detail discussion on provisions and rules related to protection of action taken in good faith.
Chapter XXVII (Sections 407–434) of the Companies Act, 2013 (CA 2013) deals with the provisions related to National Company Law Tribunal and Appellate Tribunal i.e. NCLT and NCLAT. Section 428 of CA 2013 provides for protection of action taken in good faith.
Recently, we have discussed in detail section 427 (President, Members, officers, etc., to be public servants) of CA 2013. Today, we learn the provisions of section 428 of the Companies Act 2013.
The provisions of section 428 are effective from 1st June, 2016. You may refer Notification No. S.O. 1934(E) dated 1-06-2016. In this article, you will learn detail of the provisions of section 428 the Companies Act 2013 read with the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXVII |
| Chapter Name | National Company Law Tribunal and Appellate Tribunal |
| Section No. | 428 |
| Section Name | Protection of action taken in good faith |
| Monthly Updated Edition | Company Law PDF |
Section 428 of Companies Act 2013: Protection of action taken in good faith
Section 428 shall come into force on 1st June, 2016 vide Notification No. S.O. 1934(E) issued dated 01.06.2016.
No suit, prosecution or other legal proceeding shall lie against the Tribunal, the President, Member, officer or other employee, or against the Appellate Tribunal, the Chairperson, Member, officer or other employees thereof or liquidator or any other person authorised by the Tribunal or the Appellate Tribunal for the discharge of any function under this Act in respect of any loss or damage caused or likely to be caused by any act which is in good faith done or intended to be done in pursuance of this Act.