Cos 393 — Company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc

Companies Act, 2013

Statutory text

Any failure by a company to comply with the provisions of this Chapter shall not affect the validity of any contract, dealing or transaction entered into by the company or its liability to be sued in respect thereof, but the company shall not be entitled to bring any suit, claim any set-off, make any counter-claim  or  institute  any  legal  proceeding  in  respect  of  any  such  contract,  dealing  or  transaction,  until  the company has complied with the provisions of this Act applicable to it.

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