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

During a company law proceeding, the Tribunal wants to direct Shree Polymers Ltd's officer to produce certain account records and to receive evidence on affidavit. Which statement is correct under Section 424?

The Tribunal has the same powers as a civil court under the Code of Civil Procedure on discovery and production of documents and receiving evidence on affidavits. Section 424 says it is not bound by that Code's procedure but is guided by natural justice.

  1. AThe Tribunal is strictly bound by the procedure in the Code of Civil Procedure, 1908
  2. BThe Tribunal has the powers of a civil court under that Code for requiring discovery and production of documents and receiving evidence on affidavitsCorrect
  3. CThe Tribunal can do so only through the High Court
  4. DThe Tribunal may not dismiss a representation for default

Explanation

Section 424(1) says the Tribunal is not bound by the Code of Civil Procedure procedure but is guided by natural justice. Section 424(2) gives it the same powers as a civil court trying a suit on matters including discovery and production of documents and receiving evidence on affidavits, and also dismissing a representation for default.

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