Ultimate Law Resources : Database for Lawyers
Notwithstanding anything to the contrary in sections 105 and 105A of the Companies Act, 1913 (VII of 1913), no banking company shall pay out directly or indirectly by way of commission, brokerage, discount or remuneration in any form in respect of any shares issued by it, any amount exceeding in the aggregate two and one-half per cent of the pai...
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