Section 349 CAMA 2020
Section 349 Companies and Allied Matters Act is about Court’s approval to discontinue. It is under Chapter 13 (Protection of minority against illegal and oppressive conduct action by or against the company) of the Act.
An application made or an action brought or intervened in under section 346 shall not be stayed, discontinued, settled or dismissed for want of prosecution without the approval of the Court given upon such terms as the Court deems fit and, if the Court determines that the rights of any applicant may be substantially affected by such stay, discontinuance, settlement or dismissal, the Court may order any party to the application or action to give notice to the applicant.
