Companies Act, 2017

PART-XIII

LEGAL PROCEEDINGS, OFFENCES

From: 2023-11-01 - To: 0000-00-00 492. Power of Court to grant relief in certain cases.- (1) If in any criminal proceeding for negligence, default, breach of duty or breach of trust against a person to whom this section applies, it appears to the Court, hearing the case that that person is or may be liable in respect of the negligence, default, breach of duty or breach of trust, but that he has acted honestly and reasonably, and that having regard to all the circumstances of the case, including those connected with his appointment, he ought fairly to be excused for the negligence, default, breach of duty or breach of trust, the Court, may relieve him, either wholly or partly, from his liability on such terms as the Court may think fit. (2) Where any person to whom this section applies has reason to apprehend that any claim will or might be made against him in respect of any negligence, default, breach of duty, or breach of trust, he may apply to the Court for…