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[Cites 0, Cited by 0] [Section 67] [Entire Act]

Union of India - Subsection

Section 67(c) in The Companies (Amendment) Act, 2017

(c)for sub-section (9), the following sub-section shall be substituted, namely:—"(9) If any director draws or receives, directly or indirectly, by way of remuneration any such sums in excess of the limit prescribed by this section or without approval required under this section, he shall refund such sums to the company, within two years or such lesser period as may be allowed by the company, and until such sum is refunded, hold it in trust for the company.";