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[Cites 0, Cited by 0] [Section 77(2)] [Section 77] [Entire Act]

Union of India - Subsection

Section 77(2)(c) in The Companies Act, 1956

(c)the making by a company of loans, within the limit laid down in sub-section (3), to persons (other than Directors, [* * *] or managers) bona fide in the employment of the company with a view to enabling those persons to purchase or subscribe for fully paid shares in the company or its holding company to be held by themselves by way of beneficial ownership.