Whether a person who is not a member is entitled to the waiver under Section 244(1) of the Companies Act, 2013 | Whether the waiver under the proviso to Section 244(1) can apply even to non-members – Nasik Diocesan Trust Assn. Pvt. Ltd. and Ors. Vs. Uday Daniel Khare and Ors. – NCLAT New Delhi
May 21, 2018
Under proviso to sub-section (1) of Section 244 of the Companies Act, 2013, the Tribunal is required to decide the question whether application merits ‘waiver’ of all or any of the requirements as specified in clauses (a) and (b) of sub-section (1) of Section 244 to enable such member(s) to file application under Section 241. Such order of ‘waiver’ being judicial in nature, cannot be passed by Tribunal, in capricious or arbitrary manner and can be passed only be a speaking and reasoned order after notice to the (proposed) respondents.