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[Cites 0, Cited by 0] [Section 540] [Entire Act]

Union of India - Subsection

Section 540(c) in The Companies Act, 1956

(c)with intent to defraud creditors of the company, has concealed or removed any part of the property of the company since the date of any unsatisfied judgment or order for payment of money obtained against the company, or within two months before that date, he shall be punishable with imprisonment for a term which may extend to two years and shall also be liable to fine.