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[Cites 0, Cited by 0] [Section 427] [Entire Act]

Union of India - Subsection

Section 427(c) in The Companies Act, 1956

(c)subject to the articles of the company, a director, [* * *] [ The words " managing agent, secretaries and treasurers" omitted by Act 53 of 2000, Section 187 (w.e.f. 13.12.2000).] or managershall not be liable to make such further contribution, unless the [Tribunal] [ Substituted by Act 11 of 2003, Section 49, for " Court" .] deems it necessary to require the contribution in order tosatisfy the debts and liabilities of the company, and the costs,charges and expenses of the winding up.