Section 480 - Saving of existing powers of Tribunal. - Companies Act, 1956

Saving of existing powers of Tribunal. [1] [480. Any powers conferred on the Tribunal by this Act shall be in addition to, and not in derogation of, any existing powers of instituting proceedings against any contributory or debtor of the company, or the estate of any contributory or debtor, for the recovery of any call or other sums.] ---------------------------------------- Notes:- [1] Substituted by the Companies (Second Amendment) Act, 2002, w.e.f a date yet to be notified. Prior to its substitution, section 480 read as under for the following: "480. Saving of existing powers of Court. Any powers conferred on the Court by this Act shall be in addition to, and not in derogation of, any existing powers of instituting proceedings against any contributory or debtor of the company, or the estate of any contributory or debtor, for the recovery of any call or other sums."