REGISTERED No. D. 221 The Gazette of India EXTRAORDINARY
PART II—Section 1 PUBLISHED BY AUTHORITY No. 27] NEW DELHI, SUNDAY, JULY 5, 1964/ASADHA 14, l886 (Saka) Separate paging is given to this Part in order that it may be filed as a separate compilation MINISTRY OF LAW (Legislative Department) New Delhi, 5th July, 1964/Asadha 14, 1886 (Saka) THE COMPANIES (AMENDMENT) ORDINANCE, 1964 No. 2 OF 1964 Promulgated by the President in the Fifteenth Year of the Republic of India.
An Ordinance further to amend the Companies Act, 1956.
WHEREAS Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action;
Now, THEREFORE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to promulgate the following Ordinance :- 1, (1) This Ordinance may be called the Companies (Amendment) Ordinance, 1964.
(2) It shall come into force at once.
Short title and commencement.
2, After section 635A of the Companies Act, 1956, the following sub-heading and section shall be inserted, namely: — Insertion of new sub-heading and section after section 635A of Act 1 of
1966.
279 28o THE GAZETTE OF INDIA EXTRAORDINARY [PART II "Temporary Protection of Employees
635B. (1) It—
(a) during the course of any invfhtig.it on oi. the rflair.s and other mutters ot or relating to a company, oo<iy oi person under section 235, section 237 or section 239 or of the membership and other matters of or lelating to a company, or the ownership ot shares in or debentures of a company or body corporate, or the affairs and other matters of or relating to a comoany, bidy or person, under section 247, section 248 or section 249, or
(b) during the tendency ot any pioceeding against f.ny person concerned m the conduct and management ot the affairs oi a comuany under Chaptei IVA ot Part VI, such enmaany, body or person proposes —
(i) to discharge, or
(u) t<> Dunish, whether by dismissal, removal, reduction in rank oi otherwise, any employee, the company, body or person, as the case may be, shall send by post to the Company Law Board previous intimation in writing of the action proposed against the employee and if the Company Law Board has any objection to the action proposed, it shall send by post notice thereof in writing to the company, body or person concerned.
(2) If the company, body or person concerned does not receive within thirty days of the sending of the previous intimation of the action proposed against the employee, any notice of the objection from the Company Law Board, then and only then, the company, body or person concerned may proceed to take against the employee the action proposed.
(3) If the company, body or peison concerned is dissatisfied with the objection raised by the Company Lew Board, it may, within thirty days of the receipt of the notice of the objection, prefer an appeal to the Tribunal in the prescribed manner snd on payment of the prescribed tee.
(4) The decision of the Tribunal on such apoeal shall be final and be binding on the Company Law Board and en the company, body or person concerned Protection of employees during investigation by Inspector or pendency of proceeding before Tribunal in certain cases SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 281
(5) For the removal of doubt, it is hereby declared that 1he provisions of this section shall have effect without piejudice to thf provisions of any other law for the time being in force.".
S. RADHAKRISHNAN, President.
R. C. S. SARKAR, Secy, to the Govt. of India.
PRINTED IN INDIA BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PHE3S, NEW DELtJI AND PUBLISHED BY THIS MANAGER OE' PUBLICATIONS, DELHI, 1964