alleryStart learning →A director guilty of undue gain under s.166(5) must pay what?
APay gain amount to company
BNothing if disclosed
CFine of Rs 1 lakh only
DDouble gain to members
Answer & Solution
Correct answer: A. Pay gain amount to company
Section 166(5) makes him liable to pay the company an amount equal to the gain.
Keep practising Appointment and Qualifications of Directors
Browse all Appointment and Qualifications of Directors questions for CA Final, or explore more Law topics.
Related questions
A removed director cannot later be re-appointed by whom (s.169(7))?A resolution to remove a director under s.169 requires what?Which director can the company not remove under s.169(1)?A company removes a director before term end by which resolution (s.169(1))?After resigning, a director stays liable for offences during?A resignation takes effect on which date (s.168(2))?Time to send reasons of resignation to Registrar (s.168(1) proviso)?How does a director resign under s.168(1)?