Companies Act, 2013
Section - 191 - Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares
Payment to director for loss of office, etc., in connection with transfer of undertaking, property or shares.191. (1) No director of a company shall, in connection with-
| (a) | - | the transfer of the whole or any part of any undertaking or property of the company; or |
| (b) | - | the transfer to any person of all or any of the shares in a company being a transfer resulting from- |
| (i) | - | an offer made to the general body of shareholders; |
| (ii) | - | an offer made by or on behalf of some other body corporate with a view to a company becoming a subsidiary company of such body corporate or a subsidiary company of its holding company; |
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