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of <h1>Directors Banned from Forward Dealing in Company Securities Under Clause 194, Violations Lead to Penalties</h1> Clause 194 of the Companies Bill, 2011 prohibits directors and key managerial personnel from engaging in forward dealings in securities of their company, or its holding, subsidiary, or associate companies. This includes rights to call for or make delivery of shares or debentures at specified prices and times. Violations can result in imprisonment up to two years, a fine between one lakh and five lakh rupees, or both. Additionally, any securities acquired in violation must be surrendered, and the company is prohibited from registering these securities in the violator's name. These securities will remain in the names of the original transferors.
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