1 / 9

THE COMPANIES ACT 1956

THE COMPANIES ACT 1956. 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.

lore
Download Presentation

THE COMPANIES ACT 1956

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. THE COMPANIES ACT1956 AS AMENDED UP-TO-DATE IMPORTANT SECTIONS IN THIS ACT

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. 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

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

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

More Related