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sec 67(2)
is there or history behind existence of section 67(2)?
Replies (3)
sec. of which act.
COMPANIES ACT
I don't know about history but public companies are prohibited to do the foul playing with investors ,Suppose company Provide any loan/guarantee or security on loan taken by any person to purchase its own shares & if he defaults it will directly impact the shareholders capital ,As company don't get anything in this Txn no new capital while its own funds revolved to raise fund
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