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Home Bare Acts Phrase: debentureCompanies Act, 1956 Part 4
Title: Share Capital and Debentures
State: Central
Year: 1956
.....application in writing made to the company by the transferee and bearing the stamp required for an instrument of transfer, it is proved to the satisfaction of the Board of directors that the instrument of transfer signed by or on behalf of the transferor and by or on behalf of the transferee has been lost, the company may register the transfer on such terms as to indemnity as the Board may think fit: Provided further that nothing to this section shall prejudice any power of the company to register 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. 1[(1A) Every instrument of transfer of shares shall be in such form as may be prescribed, and - (a) every such form shall, before it is signed by or on behalf of the transferor and before any entry is made therein, be presented to the prescribed authority, being a person already in the service of the Government, who shall stamp or otherwise endorse thereon the date on which it is so presented, and (b) every instrument of transfer in the prescribed form with the date of such presentation stamped or otherwise endorsed thereon.....
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Part 3
Title: Prospectus and Allotment, and Other Matters Relating to Issue of Shares or Debentures
State: Central
Year: 1956
.....disclosed, he proves that he had no knowledge thereof; or (b) he proves that the non-compliance or contravention arose from an honest mistake of fact on his part; or (c) the non-compliance or contravention was in respect of matters which, in the opinion of the Court dealing with the case4[were immaterial] or was otherwise such as ought, in the opinion of that court, having regard to all the circumstances of the case, reasonably to be excused: Provided that no director or other person shall incur any liability in respect of the failure to include in a prospectus a statement with respect to the matters specified in clause 18 of Schedule II, unless it is proved that he had knowledge of the matters not disclosed. (5) This section shall not apply - (a) to the issue to existing members or debenture-holders of a company of a prospectus or form of application relating to shares in or debentures of the company whether an applicant for shares or debentures will or will not have the right to renounce in favour of other persons; or (b) to the issue of a prospectus or form of application relating to shares or debentures which are, or are to be, in all respects uniform with.....
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 71
Title: Debentures
State: Central
Year: 2013
.....Tribunal may, on the application of any or all of the debenture-holders, or debenture trustee and, after hearing the parties concerned, direct, by order, the company to redeem the debentures forthwith on payment of principal and interest due thereon. (11) If any default is made in complying with the order of the Tribunal under this section, every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to three years or with fine which shall not be less than two lakh rupees but which may extend to five lakh rupees, or with both. (12) A contract with the company to take up and pay for any debentures of the company may be enforced by a decree for specific performance. (13) The Central Government may prescribe the procedure, for securing the issue of debentures, the form of debenture trust deed, the procedure for the debenture-holders to inspect the trust deed and to obtain copies thereof, quantum of debenture redemption reserve required to be created and such other matters.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 121
Title: Power to Re-issue Redeemed Debentures in Certain Cases
State: Central
Year: 1956
.....but for his negligence, might have discovered, that the debenture was not duly stamped; but in any such case the company shall be liable to pay the proper stamp duty and penalty. (6) Nothing in this section shall prejudice (a) the operation of any decree or order of a court of competent jurisdiction pronounced or made before the twenty-fifth day of February, 1910, as between the parties to the proceedings in which the decree or order was made; (b) where an appeal has been preferred against any such decree or order, the operation of any decree or order passed on such appeal, as between the parties to such appeal; or (c) any power to issue debentures in the place of any debentures paid off or otherwise satisfied or extinguished, reserved to a company by its debentures or the securities for the same.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 117B
Title: Appointment of Debenture Trustees and Duties of Debenture Trustees
State: Central
Year: 1956
.....Government] and the2[Central Government] may, after hearing the company and any other person interested in the matter, by an order, impose such restrictions on the incurring of any further liabilities as the2[Central Government] thinks necessary in the interests of holders of the debentures.] 3[Provided that in the case of revival and rehabilitation of a sick industrial company under Part VIA, the provisions of this section shall have effect as if for the words "Central Government", the word "Tribunal" had been substituted.] _______________________ 1. Inserted by Act 53 of 2000, section 48 (w.e.f. 13-12-2000). 2. Substituted by Act 11 of 2003, section 17, for "Company Law Board". 3. Inserted by Act 11 of 2003, section 17.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 152
Title: Register and Index of Debenture-holders
State: Central
Year: 1956
.....indication to enable the entries relating to that holder in the register to be readily found. (3) If default is made in complying with sub-section (1) or (2), the company, and every officer of the company who is in default, shall be punishable with fine which may extend to 3 [five hundred rupees]. (4) Sub-sections (1) to (3) shall not apply with respect of debentures which, ex facie, are payable to the bearer thereof: ____________________ 1. The words "distinguishing each share by its number" omitted by Act 22 of 1996, sec. 30 and Schedule (w.r.e.f. 20-9-1995). 2. Inserted by Act 8 of 1997, Section 12 (w.r.e.f. 15-1-1997). 3. Substituted by Act 53 of 2000, Section 62, for "fifty rupees" (w.e.f. 13-12-2000).
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 64
Title: Document Containing Offer of Shares or Debentures for Sale to Be Deemed Prospectus
State: Central
Year: 1956
.....date when the offer was made, the whole consideration to be received by the company in respect of the shares or debentures had not been received by it. (3) Section 56 as applied by this section shall have effect as if it required a prospectus to State in addition to the matters required by that section to be stated in a prospectus (a) the net amount of the consideration received or to be received by the company in respect of the shares or debentures to which the offer relates; and (b) the place and time at which the contract under which the said shares or debentures have been or are to be allotted may be inspected. (4) Section 60 as applied by this section shall have effect as if the persons making the offer were persons named in a prospectus as directors of a company. (5) Where a person making an offer to which this section relates is a company or a firm, it shall be sufficient if the document referred to in sub-section (1) is signed on behalf of the company or firm by two directors of the company or by not less than one-half of the partners in the firm, as the case may be; and any such director or partner may sign by his agent authorised in writing.
View Complete Act List Judgments citing this sectionCompanies 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). .....
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 117C
Title: Liability of Company to Create Security and Debenture Redemption Reserve
State: Central
Year: 1956
.....may, on the application of any or all the holders of debentures shall, after hearing the parties concerned, direct, by order, the company to redeem the debentures forthwith by the payment of principal and interest due thereon. (5) If default is made in complying with the order of the2[Tribunal] under sub-section (4), every officer of the company who is in default, shall be punishable with imprisonment which may extend to three years and shall also be liable to a fine of not less than five hundred rupees for every day during which such default continues.] ________________________ 1. Inserted by Act 53 of 2000, section 48 (w.e.f. 13-12-2000). 2. Substituted by Act 11 of 2003, section 18, for "Company Law Board".
View Complete Act List Judgments citing this sectionIndian Stamp Act, 1899 Section 55
Title: Allowance on Renewal of Certain Debentures
State: Central
Year: 1899
When any duly stamped debenture is renewed by the issue of a new debenture in the same terms, the Collector shall, upon application made within one month, repay to the person issuing such debenture, the value of the stamp on the original or on the new debenture, whichever shall be less: Provided that the original debenture is produced before the Collector and cancelled by him in such manner as the State Government may direct. Explanation.--- A debenture shall be deemed to be renewed in the same terms within the meaning of this section notwithstanding the following changes : (a) the issue of two or more debentures in place of one original debenture, the total amount secured being the same; (b) the issue of one debenture in place of two or more original debentures, the total amount secured being the same; (c) the substitution of the name of the holder at the time of renewal for the name of the original holder; and (d) the alteration of the rate of interest or the dates of payment thereof.
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