Section 397 of the Companies Act, 2013
Section 397 of the Companies Act, 2013 — [Omitted/Not Applicable]
There is no Section 397 in the Companies Act, 2013. This section number was part of the Companies Act, 1956, not the 2013 Act.
Under Companies Act, 1956:
Section 397 dealt with "relief in cases of oppression" — where members of a company could apply to the Company Law Board (CLB) if the affairs of the company were being conducted in a manner oppressive to them.
Under Companies Act, 2013:
The provisions related to oppression and mismanagement have been recast and included under Sections 241 to 246.
Relevant Section:
Section 241 – Application to Tribunal for relief in cases of oppression, etc.
Section 242 – Powers of Tribunal
Section 244 – Right to apply under Section 241
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