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[Cites 0, Cited by 0] [Section 395] [Entire Act]

Union of India - Subsection

Section 395(4) in The Companies Act, 1956

(4)Any sums received by the transferor company under this section shall be paid into a separate bank account, and any such sums and any other consideration so received shall be held by that company in trust for the several persons entitled to the shares in respect of which the said sums or other considerations were respectively received.