Section 402 of the Companies Act, 2013
Section 402 of the Companies Act, 2013 does not exist in the current statute.
The Companies Act, 2013 consists of 470 sections, but many sections have been omitted, reserved, or not yet enforced. As of now:
Section 402 is not a notified or enacted provision under the Companies Act, 2013.
It may be a reserved section for future use or amendment.
📝 Note:
Under the Companies Act, 1956, Section 402 did exist and dealt with the powers of the Tribunal (then Company Law Board) in cases of oppression and mismanagement.
But in the Companies Act, 2013, such matters are now covered under:
Section 241 – Application to Tribunal for relief in cases of oppression, etc.
Section 242 – Powers of Tribunal.
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