Section - 58, Companies Act, 2013 Refusal of registration and appeal against refusal . 58. (1) If a private company limited by shares refuses, whether in pursuance of any power of the company under its articles or otherwise, to register the transfer of, or the transmission by operation of law of the right to, any securities or…...
Punishment for personation of shareholder . Section – 57, Companies Act, 2013
Section - 57, Companies Act, 2013 Punishment for personation of shareholder . 57. If any person deceitfully personates as an owner of any security or interest in a company, or of any share warrant or coupon issued in pursuance of this Act, and thereby obtains or attempts to obtain any such security or interest or any such…...
Transfer and transmission of securities. Section – 56, Companies Act, 2013
Section - 56, Companies Act, 2013 Transfer and transmission of securities. 56. (1) A company shall not register a transfer of securities of the company, or the interest of a member in the company in the case of a company having no share capital, other than the transfer between persons both of whose names are entered as…...
Issue and redemption of preference shares . Section – 55, Companies Act, 2013
Section - 55, Companies Act, 2013 Issue and redemption of preference shares . 55. (1) No company limited by shares shall, after the commencement of this Act, issue any preference shares which are irredeemable. (2) A company limited by shares may, if so authorised by its articles, issue preference shares which are liable to be redeemed within…...
Issue of sweat equity shares. Section – 54, Companies Act, 2013
Section - 54, Companies Act, 2013 Issue of sweat equity shares. 54. (1) Notwithstanding anything contained in section 53, a company may issue sweat equity shares of a class of shares already issued, if the following conditions are fulfilled, namely:— (a) the issue is authorised by a special resolution passed by the company; (b) the resolution…...
Prohibition on issue of shares at discount. Section – 53, Companies Act, 2013
Section - 53, Companies Act, 2013 Prohibition on issue of shares at discount. 53. (1) Except as provided in section 54, a company shall not issue shares at a discount. (2) Any share issued by a company at a shall be void. [(2A) Notwithstanding anything contained in sub-sections (1) and (2), a company may issue shares at…...
Calls on shares of same class to be made on uniform basis . Section – 49, Companies Act, 2013, Section – 50, Companies Act, 2013
Section - 49, Companies Act, 2013 Calls on shares of same class to be made on uniform basis . 49. Where any calls for further share capital are made on the shares of a class, such calls shall be made on a uniform basis on all shares falling under that class. Explanation.—For the purposes of this section,…...
Variation of shareholders’ rights. Section – 48, Companies Act, 2013
Section - 48, Companies Act, 2013 Variation of shareholders' rights. 48. (1) Where a share capital of the company is divided into different classes of shares, the rights attached to the shares of any class may be varied with the consent in writing of the holders of not less than three-fourths of the issued shares of…...
Voting rights. Section – 47, Companies Act, 2013
Section - 47, Companies Act, 2013 Voting rights. 47. (1) Subject to the ,— (a) every member of a company limited by shares and holding equity share capital therein, shall have a right to vote on every resolution placed before the company; and…...
Certificate of shares . Section – 46, Companies Act, 2013
Section - 46, Companies Act, 2013 Certificate of shares . 46. (1) A certificate, , specifying the shares held by any person, shall be prima facie evidence of the title…...