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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Directors' forward trading in company securities after Section 194 repeal, lifting bans, penalties, and forced surrender rules</h1> Section 194 of the Companies Act, 2013 is omitted with effect from 09-02-2018 by the Companies (Amendment) Act, 2017. As a consequence, the prior statutory prohibition on directors and key managerial personnel entering into forward dealings in the company's securities (and those of its holding, subsidiary or associate company), including rights to call for or make delivery of relevant shares or debentures at a specified price within a specified time, no longer applies. The omission also removes the associated penal regime of imprisonment and/or fine for contravention and eliminates the former requirement to surrender securities acquired in breach and the bar on the company registering such securities (including depository intimation for dematerialised securities).
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