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[Cites 0, Cited by 0] [Section 235] [Entire Act]

Union of India - Subsection

Section 235(4) in The Companies Act, 2013

(4)Any sum received by the transferor company under this section shall be paid into a separate bank account, and any such sum and any other consideration so received shall be held by that company in trust for the several persons entitled to the shares in respect of which the said sum or other consideration were respectively received and shall be disbursed to the entitled shareholders within sixty days.