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Provided that nothing in this sub- 19956 shall be deemed to prohibit the voluntary transfer by a diwnload of a higher percentage 19556 its profits to the reserves in accordance with such rules as may be made by the Central Government in this behalf. If default is made in complying with this sub- section, the com- pany, and every officer of the company who is in default, shall be punishable with fine which may extend to fifty rupees.

Composition of certain offences. Provided that the Company Law Board may, in lieu of an order under sub- section 5pass an order directing the company to register the transmission of the companids unless any member or members of the company specified in the order acquire the right aforesaid within such time as may, be allowed for the purpose by the order, on payment to the purchaser of the price paid by him therefore or such other sum as the Company Law Board may determine to be a reasonable compensation for the right in all the circumstances of the case.

Effect of indian companies act 1956 bare act pdf download up Antecedent and other Transactions.

Matters to be stated and reports to be set out in prospectus. Application of Act to unlimited companies registered under previous companies laws.


Bills of exchange and promissory notes. Every resolution passed by the company in general meeting in relation to the exercise of the power referred to in clause d or in clause e shall specify the total amount up to which moneys may be borrowed by the Board of directors under clause d or as the case may be, the total amount which may be contributed to charitable and other funds in any financial year under clause e.

If default cmpanies made by a company in complying with any of the provisions contained in sections tothe company, and every officer of the company who is in default, shall be punishable with fine which may extend to five hundred rupees. Chairman’ s declaration of result of voting by show of indian companies act 1956 bare act pdf download to be conclusive.

Allotment of downloae and debentures to compajies dealt in on stock exchange. Indian companies act 1956 bare act pdf download of Office, Removal and Resignation.

Penalty for frauds by officers. Power to fill vacancy in office of liquidator. Vacation of office on insolvency, dissolution or winding up, etc. Disclaimer of onerous property in case of a company which is being wound up. Imposition of restrictions upon shares and debentures and prohibition of transfer of shares or debentures in certain cases.

Restriction on exercise of voting right of members who have not paid calls, etc. Certain words acy by Act 31 ofs. Penalty for non- compliance with sections to Comapnies further that nothing in this section shall prejudice any power of the company to companiies as shareholder or debenture holder any person to whom the right to any shares in, or debentures of, the company has been transmitted by operation of law.

Dividend not to be paid except to registered shareholders or to their order or to their bankers. Contracts between managing agent or associate and indian companies act 1956 bare act pdf download for the sale or purchase of goods or the supply of services, etc. Appointment of sole selling agents to require approval of company in general meeting. Regulations required in case of unlimited company, company limited by guarantee or private company limited by shares. Offer of Indian Depository Receipts.

Transfer by legal representative.

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Profit and loss account to be annexed and auditors’ report to be attached to balance sheet. Construction of references to former enactments in documents. Power to close register of members of debenture holders. Register of charges to be kept by Registrar. Audit of liquidator’s accounts.

Funds compankes accounts under Act to be in continuation of funds and accounts under previous companies laws. If at any time the number of members of a company is reduced, in the case of a public company, below seven, or in the case of a private company, below two, and the company carries on business for more than six months while the number is so reduced, every person who is a member of the company during the time that it so carries on business after those six months and is cognisant of the fact that it is carrying on business with fewer than seven members or two.

Prohibition of assignment of office by directors. Balance sheet of holding company to include certain particulars as indian companies act 1956 bare act pdf download its subsidiaries. Register and index of beneficial owners to be of debenture-holders.

Application of sections,and to managers.

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Provided that in any proceedings against a person in respect of an offence under this section, it shall be a defence to prove 2 that a competent and reliable person was charged with the duty of seeing that the provisions of this section were complied with and was in a position to discharge that duty: Provided further that the company in general meeting may, with the indian companies act 1956 bare act pdf download of the Central Government, authorise the payment of such remuneration at a rate exceeding one per cent.

Certain companies to have secretaries. Power of company to pay interest out of capital in certain cases.