Section 428 of the Companies Act, 2013: Protection of Action Taken in Good Faith
Updated: Oct 17
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No suit, prosecution, or other legal proceedings shall lie against the Tribunal, the President, Member, officer, or other employees, or the Appellate Tribunal, the Chairperson, Member, officer, or other employees thereof, or the liquidator, or any other person authorized by the Tribunal or the Appellate Tribunal to discharge any function under this Act in respect of any loss or damage caused or likely to be caused by any act done or intended to be done in good faith by any act done or intended to be done in good faith by any action.
What is Good Faith?
In good faith, something is done sincerely and honestly. For example, She was acting in good faith for her client.