Prohibition on forward dealings in securities of company by director or key managerial personnel.

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..... ng, subsidiary or associate company-- (a) a right to call for delivery or a right to make delivery at a specified price and within a specified time, of a specified number of relevant shares or a specified amount of relevant debentures; or (b) a right, as he may elect, to call for delivery or to make delivery at a specified price and within a specified time, of a specified number of relevant sh .....

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..... record such acquisition and such securities, in both the cases, shall continue to remain in the names of the transferors. Explanation.--For the purposes of this section, ''relevant shares'' and ''relevant debentures'' mean shares and debentures of the company in which the concerned person is a whole-time director or other key managerial personnel or shares and debentures of its holding and subs .....

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