ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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A Black Year

the Supreme Court majority would have had the effect of invalidating nearly all the major decisions taken by the Company Law Board since its inception. The ordinance has corrected this error retrospectively, in the light of the Supreme Court's judgment. Till the Supreme Court's judgment the Government's interpretation of the 1963 amendment which created the Board was that the Chairman and members could act individually. It is, incidentally, in pursuance of this judgment that the Board now meets formally every Friday and records its decisions. The road to corporate morality is evidently paved with technicalities

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