Undischarged insolvent not to manage companies.

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Full Text of the Document

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....tor, or acts as or discharges any of the functions of the ^[1][* * *] manager, of any company; or      (b) directly or indirectly takes part or is concerned in the promotion, formation or management of any company; he shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ^[2][fifty thousand rupees], or with both. ....