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

Anita, Company Secretary of Kaveri Foods Ltd, learns that shareholders may sue her over a certification she signed. No proceeding has yet been filed. What does Section 463 permit her to do?

She may apply to the High Court in advance. An officer who has reason to apprehend a proceeding for negligence, default, breach of duty, misfeasance or breach of trust can seek relief, and the High Court has the same power as a trial court under Section 463(1).

  1. AApply to the High Court for relief, which has the same power as a court hearing the proceedingCorrect
  2. BApply to the Registrar, who may grant relief
  3. CWait until a suit is filed, as no advance application is allowed
  4. DApply to the Tribunal, which alone can excuse her

Explanation

Section 463(2) lets an officer who reasonably apprehends a proceeding apply to the High Court, which has the same relieving power as under sub-section (1). Waiting is not required, so option C is wrong.

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