TMI BlogAmendment of section 197.X X X X Extracts X X X X X X X X Extracts X X X X ..... eral meeting, , the words by a special resolution, shall be inserted; ( iii ) after the second proviso, the following proviso shall be inserted, namely:- Provided also that, where the company has defaulted in payment of dues to any bank or public financial institution or non-convertible debenture holders or any other secured creditor, the prior approval of the bank or public financial ins ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ded, hold it in trust for the company. ; ( d ) in sub-section ( 10 ),- ( i ) for the words permitted by the Central Government , the words approved by the company by special resolution within two years from the date the sum becomes refundable shall be substituted; ( ii ) the following proviso shall be inserted, namely:- Provided that where the company has defaulted in payment of du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ovisions of this section, whether remuneration paid to any director is in excess of the limit laid down under this section and give such other details as may be prescribed. ( 17 ) On and from the commencement of the Companies (Amendment) Act, 2017, any application made to the Central Government under the provisions of this section [as it stood before such commencement], which is pending with th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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