Section 344 – The Companies Act,1956

The Companies Act, 1956

344. MANAGING AGENCY NOT TO BE HERITABLE AFTER COMMENCEMENT OF ACT.

Any agreement made by a company other than a private company which is not a subsidiary of a public company, with its managing agent after the commencement of this Act shall be void in so far as it provides forsuccession to the office by inheritance or device.

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The Companies Act, 1956

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