NCLT1 min read
Section 241 242
Sections 241 and 242 of Companies Act 2013 dealing with relief in cases of oppression and mismanagement. Section 241 allows eligible members to apply; Section 242 empowers NCLT to pass orders including change of directors, alteration of MOA/AOA, and buyback of shares.
Last updated: 17 May 2026
Frequently Asked Questions (FAQs)🔗
Q1. What is Section 241 242 in Indian corporate law?▼
Sections 241 and 242 of Companies Act 2013 dealing with relief in cases of oppression and mismanagement. Section 241 allows eligible members to apply; Section 242 empowers NCLT to pass orders including change of directors, alteration of MOA/AOA, and buyback of shares.
Q2. Why is Section 241 242 important for compliance?▼
Section 241 242 is adjudicated by the National Company Law Tribunal under the Companies Act, 2013 or IBC. Understanding this concept is essential for ensuring regulatory compliance, avoiding penalties, and making informed corporate decisions in India.
Q3. Who should know about Section 241 242?▼
Section 241 242 is relevant for company secretaries, compliance officers, chartered accountants, corporate lawyers, board members, and all professionals dealing with NCLT regulatory matters in India.
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