TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 393: Companies Must Disclose Officer Interests in Compromise Meetings or Face Penalties for Non-Compliance.</h1> Section 393 of the Companies Act, 1956 mandates that when meetings of creditors or members are called to discuss compromises or arrangements, a statement detailing the terms and effects must accompany the notice. This statement must disclose any material interests of company officers and its impact on them compared to others. If debenture holders' rights are affected, similar information must be provided for trustees. Non-compliance results in fines. Officers must notify the company of relevant personal matters, failing which they face penalties. The section also outlines procedures for obtaining these statements and the penalties for default.
TaxTMI 
TaxTMI 
