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[Cites 0, Cited by 3] [Section 535] [Entire Act]

Union of India - Subsection

Section 535(2) in The Companies Act, 1956

(2)The disclaimer shall operate to determine, as from the date of disclaimer, the rights, interest, and liabilities of the company, and the property of the company, in or in respect of the property disclaimed, but shall not, except so far as is necessary for the purpose of releasing the company and the property of the company from liability, affect the rights or liabilities of any other person.