Login : Advocate | Client
Home Post Your Case My Account Law College Law Library

State Financial Corporations Act, 1951

32D. No right to compensation for termination of contract of Managing Agent, Managing Director, etc.

(1) Notwithstanding anything to the contrary contained in any contract or in any law for the time being in force, no Managing agent, Managing Director or any other Director or a manager or any person in charge of management of an industrial concern shall be entitled to any compensation for the loss of office or for the premature termination under this Act of any contract of management entered into by him with such concern.

(2) Nothing contained in sub-section (1) shall affect the right of any such managing agent or Managing Director, or any other Director or manager or any such person in charge of management to recover from the industrial concern, moneys recoverable otherwise than by way of such compensation.

State Financial Corporation Act, 1951 Back

Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys