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[Cites 0, Cited by 0] [Section 321(1)] [Section 321] [Entire Act]

Union of India - Subsection

Section 321(1)(b) in The Companies Act, 1956

(b)the company or any person to whom the transfer was made was privy to that arrangement, the payment shall be deemed, except in so far as the contrary is shown, to be one to which that sub-section applies.