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[Cites 0, Cited by 0] [Section 208] [Entire Act]

Union of India - Subsection

Section 208(3) in The Companies Act, 1956

(3)No such payment, whether authorised by the articles or by special resolution, shall be made without the previous sanction of the Central Government.The grant of such sanction shall be conclusive evidence, for the purposes of this section, that the shares of the company, in respect of which such sanction is given, have been issued for a purpose specified in this section.