धारा 356

The Central Government may, if it is satisfied that it is necessary in the public interest so to do, by order, supersede the Board of Directors of a company, and appoint one or more persons as directors in place of the existing directors for a term not exceeding five years, or for the remaining period of their term of office, whichever is shorter, and where such an order has been made, the previous approval of the Tribunal shall be required for any alteration in the articles of the company.