Section 21   [ View Judgements ]

Amendment of section 75

In section 75 of the principal Act, in sub-section (1), clause (c), the following clause shall be substituted, namely:-

"(c) file with the Registrar--

(i) in the case of bonus shares, a return stating the number and nominal amount of such shares comprised in the allotment and the names, addresses and occupations of the allottees and a copy of the resolution authorising the issue of such shares;

(ii) in the case of issue of shares at a discount, a copy of the resolution passed by the company authorising such issue together with a copy of the order of the Court sanctioning the issue and where the maximum rate of discount exceeds ten per cent., a copy of the order of the Central Government permitting the issue at the higher percentage.".

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