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Companies Act, 1956 Part 3

Title: Prospectus and Allotment, and Other Matters Relating to Issue of Shares or Debentures

State: Central

Year: 1956

.....1934), repayment of such deposit shall be made in full on or before the 1st day of April, 1975, and such repayment shall be without prejudice to any action that may be taken under the Reserve Bank of India Act, 1934 for the acceptance of such deposit in contravention of such direction. 6[(3A) Every deposit accepted by a company after the commencement of the Companies (Amendment) Act, 1998, shall, unless renewed in accordance with the rules made under sub-section (1), be repaid in accordance with the terms and conditions of such deposit.] (4) Where any deposit is accepted by a company after the commencement of the Companies (Amendment) Act, 1974, in contravention of the rules made under sub­section (1), repayment of such deposit shall be made by the company within thirty days from the date of acceptance of such deposit or within such further time, not exceeding thirty days, as the Central Government may, on sufficient cause being shown by the company, allow. (5) Where a company omits or fails to make repayment of a deposit in accordance with the provisions of clause (c) of sub-section (3), or in the case of a deposit referred to in sub-section (4), within the time.....

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Companies Act, 1956 Part 4

Title: Share Capital and Debentures

State: Central

Year: 1956

.....company who is in default, shall be punishable with fine which may extend to3[five hundred rupees]. ________________________ 1.Substituted by Act 11 of 2003, Section 14, for "Court". 2.Substituted by Act 31 of 1965, Section 62 and Schedule, for "fifteen" (w.e.f. 15-10-1965). 3. Substituted by Act 53 of 2000, Section 43, for "fifty rupees" (w.e.f. 13-12-2000). Section 108 to 112 - Transfer of shares and debentures Section 108 - Transfer not to be registered except on production of instrument of transfer (1) A company shall not register a transfer of shares in, or debentures of, the company, unless a proper instrument of transfer duly stamped and executed by or on behalf of the transferor and by or on behalf of the transferee and specifying the name, address and occupation, if any, of the transferee, has been delivered to the company along with the certificate relating to the shares or debentures or if no such certificate is in existence, along with the letter of allotment of the shares or debentures: Provided that where, on an application in writing made to the company by the transferee and bearing the stamp required for an instrument of transfer, it is proved.....

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Companies Act, 1956 Section 73

Title: Allotment of Shares and Debentures to Be Dealt in on Stock Exchange

State: Central

Year: 1956

.....debentures offered thereby to be dealt in on any stock exchange, unless it is a recognised stock exchange. _____________________ 1. Inserted by Act 31 of 1988, Section 10 (w.e.f. 15-6-1968). 2. Substituted by Act 41 of 1974, Section 8, for original sub-section (1) (w.e.f. 1-2-1975). 3. Sub-section (1) re-numbered as sub-section (1A) thereof by Act 31 of 1988, Section 10 (w.e.f. 15-6-1988). 4. Substituted by Act 31 of 1988, Section 10, for "application has been, or will be" (w.e.f. 15-6-1988). 5. Certain words omitted by Act 31 of 1988, Section 10 (w.e.f. 15-6-1988). 6. Substituted by Act 31 of 1988, Section 10, for "applied for as aforesaid" (w.e.f. 15-6-1988). 7. Substituted by Act 41 of 1974, Section 8, for "or has not been granted as aforesaid" (w.e.f. 1-2-1975). 8. Substituted by Act 31 of 1988, Section 10, for certain words (w.e.f. 15-6-1988). 9. Proviso omitted by Act 31 of 1988, Section 10 (w.e.f. 15-6-1988). 10. Inserted by Act 41 of 1974, Section 8 (w.e.f. 1-2-1975). 11. Substituted by Act 31 of 1988, Section 10, for certain words (w.e.f. 15-6-1988). 12. Substituted by Act 53 of 2000, Section 30, for "five thousand rupees" (w.e.f. 13-12-2000). .....

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Jayanti Shipping Company ( Acquisition of Shares ) Act , 1971 Chapter II

Title: Acquisition of Shares of the Company

State: Central

Year: 1971

.....whatsoever. Section 4 - Apportionment and manner of payment of compensation (1) The amount of compensation payable under clause (b) of sub-section 1 of section 3 to the share holder shall be apportioned among the shareholders according to the number of shares held by such shareholders (2) The amount of compensation payable to a shareholder in accordance with the provisions of sub-section (1) shall be given to him, at his option.-- (a) in cash (to be paid by cheque drawn on the Reserve Bank of India) in three equal annual instalments, the amount of each instalment carrying interest at the rate of four per cent.per annum from the appointed day, or (b) in saleable or otherwise transferable promissory notes or stock certificates of the Central Government issued and repayable at par, and maturing at the end of-- (i) ten years from the appointed day and carrying interest from that day at the rate of four and a half per cent.per annum, or (ii) thirty years from the appointed day and carrying interest from that day at the rate of five and a half per cent.per annum, or (c) partly in cash (to be paid by cheque drawn on the Reserve Bank of India) and partly in such.....

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Companies Act, 1956 Section 72

Title: Applications For, and Allotment Of, Shares and Debentures

State: Central

Year: 1956

.....who is knowingly guilty of, or wilfully authorises or permits, the contravention. (5) An application for shares in, or debentures of, a company, which is made in pursuance of a prospectus issued generally shall not be revocable until after the expiration of the fifth day after the time of the opening of the subscription lists, or the giving, before the expiry of the said fifth day by some person responsible under section 62 for the prospectus, of a public notice having the effect under that section of excluding, limiting or diminishing the responsibility of the person giving it. _____________________ 1. Substituted by Act 53 of 2000, Section 29, for "five thousand rupees" (w.e.f. 13-12-2000).

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Companies Act, 1956 Section 68A

Title: Personation for Acquisition, Etc., of Shares

State: Central

Year: 1956

1 [68A. Personation for acquisition, etc., of shares (1) Any person who - (a) makes in a fictitious name an application to a company for acquiring, or subscribing for, any shares therein, or (b) otherwise induces a company to allot, or register any transfer of, shares therein to him, or any other person in a fictitious name, shall be punishable with imprisonment for a term which may extend to five years. (2) The provisions of sub-section (1) shall be prominently reproduced in every prospectus issued by the company and in every form of application for shares which is issued by the company to any person.] ________________________ 1. Inserted by Act 31 of 1965, Section 8 (w.e.f. 15-10-1965).

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Companies Act, 1956 Section 96

Title: Effect of Conversion of Shares into Stock

State: Central

Year: 1956

Where a company having a share capital has converted any of its shares into stock, and given notice of the conversion to the Registrar, all the provisions of this Act which are applicable to shares only, shall cease to reply as to so much of the share capital as is converted into stock.

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British India Corporation Limited (Acquisition of Shares ) Act , 1981 Chapter II

Title: Acquisition of the Shares of the Company

State: Central

Year: 1981

....., of the company), as it may consider necessary and the provisions . so made shall have effect notwithstanding anything contained in the companies Act 1956. Section 5 - Payments of amounts (1) For the transfer to and vesting in the central government under section 3, of the shares of the company , there shall be given by the central government to the shareholders of the company , in case and in the manner specified in section 7, an amount of rupees twenty two lakhs and sixty thousand. (2) The amount , referred to in sub-section (1) , shall carry simple interest at the rate of four percent , per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the central government to the commissioner. Section 6 - Appointment of commissioner of payments (1) The central government shall , for the purpose of disbursing the amounts payable to shareholders of the company under section 5, by notification , appoint a commissioner of payments. (2) The central government may appoint such other persons as it may think fit to assist the commissioner and thereupon the commissioner may authorise one or more of such persons.....

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Indian Iron and Steel Company Acquisition of Shares Act 1976 Chapter II

Title: Acquisition of the Shares of the Company

State: Central

Year: 1976

.....pay, in cash to the Commissioner, for payment to the shareholders of the Company,-- (a) an amount equal to the amount specified in sub-section (1) of section 4; and (b) an amount equal to the amount determined under sub-section (2) of section 4, (2) A deposit account shall be opened by the Central Government in favour of the Commissioner, in the Public Account of India, and every amount paid under this Act to the Commissioner shall be deposited by him to the credit of the said deposit account and the said deposit account shall be operated by the Commissioner. (3) The interest accruing on the amount standing to the credit of the deposit account, referred to in sub-section (2), shall enure to the benefit of the shareholders of the Company: ________________________ 1. 19-11-1976 notified as specified date 4392, dt. 4-11-1976). Section 7 - Claims to be made to the Commissioner (1) Every shareholder, having a claim in relation to any share acquired by this Act, shall prefer such claim before the Commissioner1[before the expiry of one hundred and twenty days from the date of commencement of the Indian Iron and Steel Company (Acquisition of Shares).....

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Bolani Ores Limited (Acquisition of Shares) and Miscellaneous Provisions Act, 1978 Chapter II

Title: Acquisition and Transfer of Shares of Bolani Ores Limited

State: Central

Year: 1978

.....an amount of forty-nine thousand five hundred rupees. (2) Where the Central Government fails to pay to the Company the amount specified in sub-section (1) within the period specified in that sub-section, the central Government shall pay on the said amount simple interest at the rate of six per cent, per annum from the appointed day till the date of payment. Section 5 - Allocation of share s to the Steel authority of India (1) All the shares held by the Company in the Bolani Ores Limited which have vested in the Central Government by virtue of section 3 shall, immediately after they have so vested, stand transferred to, and shall vest in, the steel authority of India. (2) The amount paid by the Central Government for the shares which stand transferred to, and vested in, the Steel authority of India under sub-section (1) shall be deemed to the contribution by the central Government to the equity capital of the steel Authority of India and the Steel authority of India shall issue (if necessary, after amending its memorandum and articles of association) to the Central Government forty-nine fully paid-up shares of the face value of one thousand rupees each and pay to that.....

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