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[Cites 0, Cited by 0] [Section 149(1)] [Section 149] [Entire Act]

Union of India - Subsection

Section 149(1)(b) in The Companies Act, 1956

(b)every Director of the company has paid to the company, on each of the shares taken or contracted to be taken by him and for which he is liable to pay in cash, a proportion equal to the proportion payable on application and allotment on the shares offered for public subscription;