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AS AMENDED UP-TO-DATE

IMPORTANT SECTIONS

IN THIS ACT

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SECTIONS TO BE REMEMBER Sec 75 : Return of allotments

Sec 76: Power to pay certain commissions andprohibition of payment of all other commissionsdiscounts, etc.

Sec 77: restrictions on purchase by company or loansby company for purchase of its own or its holdingcompanys shares .

Sec 77A: power of company to purchase its ownsecurities.

Sec 77AA: transfer of certain sums to capitalredemption reserve account.

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Coned.. Sec 77B: prohibition for buy-back in certain

circumstances.

Sec78: application of premiums received on issue ofshares.

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.

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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 ofobjective creditors.

Sec102: order confirming reduction and powers oftribunal on making such order.

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Contd. Sec103: registration of order and minute of reduction.

Sec104: liability of members in respect of reducedshares.

Sec105: penalty for concealing name of creditor, etc.

Sec108: transfer not to be registered except onproduction of instrument of transfer.

Sec109: transfer by legal representative.

Sec110: application of transfer.

Sec111: power to refuse registration and appeal againstrefusal.

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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 ofauditors.

Sec227: power and duties of auditors. Sec228: audit of accounts of branch office of company.

sec233: power of central government to direct special

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contd.Audit in certain cases.

sec233B: audit of cost accounts in certain cases.

Sec349: determination of net profits.

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These are the important

sections to rememberrequired for c.law(ipcc)

Prepared by giridhar(ipcc)

But these are important.