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[Cites 0, Cited by 0] [Section 67(a)] [Section 67] [Entire Act]

Union of India - Subsection

Section 67(a)(iii) in The Companies (Amendment) Act, 2017

(iii)after the second proviso, the following proviso shall be inserted, namely:—"Provided also that, where the company has defaulted in payment of dues to any bank or public financial institution or non-convertible debenture holders or any other secured creditor, the prior approval of the bank or public financial institution concerned or the non-convertible debenture holders or other secured creditor, as the case may be, shall be obtained by the company before obtaining the approval in the general meeting.";