AS AMENDED UP-TO-DATE IMPORTANT SECTIONS IN THIS ACT.

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Presentation transcript:

AS AMENDED UP-TO-DATE IMPORTANT SECTIONS IN THIS ACT

SECTIONS TO BE REMEMBER Sec 75 : Return of allotments Sec 76: Power to pay certain commissions and prohibition of payment of all other commissions discounts, etc. Sec 77: restrictions on purchase by company or loans by company for purchase of it’s own or its holding company’s shares. Sec 77A: power of company to purchase its own securities. Sec 77AA: transfer of certain sums to capital redemption reserve account.

Coned….. Sec 77B: prohibition for buy-back in certain circumstances. Sec78: application of premiums received on issue of shares. Sec79: power to issue shares at a discount. sec79A: issue of sweat equity shares. Sec80: power to issue redeemable preference shares. Sec81: further issue of capital.

Contd… Sec94: power of limited company to alter its share capital. Sec99: reserve liability of limited company. Sec100: special resolution for reduction of share capital. Sec101: application to tribunal for confirming order, objectives by creditors, and settlement of list of objective creditors. Sec102: order confirming reduction and powers of tribunal on making such order.

Contd…. Sec103: registration of order and minute of reduction. Sec104: liability of members in respect of reduced shares. Sec105: penalty for concealing name of creditor, etc. Sec108: transfer not to be registered except on production of instrument of transfer. Sec109: transfer by legal representative. Sec110: application of transfer. Sec111: power to refuse registration and appeal against refusal.

Contd…. Sec113: limitation of time for issue of certificate. Sec114: issue and effect of share warrants to bearer. sec117A: debenture trust deed. sec117B: appointment of debenture trustees and duties of debenture trustees. Sec125: certain charges to be void against liquidator or creditors unless registered. Sec143: company’s register of charges. Sec159: annual return to be made by company having a share capital.

Contd…. Sec193: minutes of proceedings of general meetings and of board and other meetings. Sec209: books of account to be kept by company. Sec224: appointment and remuneration of auditors. Sec226: qualifications and disqualifications of auditors. Sec227: power and duties of auditors. Sec228: audit of accounts of branch office of company. sec233: power of central government to direct special

contd…. Audit in certain cases. sec233B: audit of cost accounts in certain cases. Sec349: determination of net profits.

These are the important sections to remember required for c.law(ipcc) Prepared by giridhar(ipcc) But these are important.