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CS Professional · Compliance Management, Audit and Due Diligence · Relief and Remedies

A High Court is considering an application by Neha, an officer of Pinnacle Steels Ltd, for relief from liability for misfeasance. The court is satisfied she acted honestly and reasonably. Before granting relief, which step does section 463 require?

The court must first serve notice requiring the Registrar, and any other person it thinks necessary, to show cause why relief should not be granted. Without that notice it cannot grant relief under either sub-section (1) or (2).

  1. AServe notice requiring the Registrar and any other person it thinks necessary to show cause why relief should not be grantedCorrect
  2. BObtain the written no-objection of all directors of the company
  3. CRefer the matter to the Tribunal for its concurrence
  4. DPublish the proposed relief in a newspaper for 30 days

Explanation

Section 463(3) bars any court from granting relief under sub-section (1) or (2) unless it has, by notice served in the manner it specifies, required the Registrar and such other person as it thinks necessary to show cause why relief should not be granted. No other prior step is prescribed in the text.

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