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Home Bare Acts Phrase: redeemabilityCompanies Act, 1956 Section 80
Title: Power to Issue Redeemable Preference Shares
State: Central
Year: 1956
.....with the provisions of this section, the company, and every officer of the company who is in default, shall be punishable with fine which may extend to5[ten thousand rupees]. _____________________ 1. Substituted by Act 21 of 1999, Section 7, for "share premium account" (w.r.e.f. 31-10-1998). 2. Substituted by Act 65 of 1960, Section 23, for "the capital redemption reserve fund" (w.e.f. 28-12-1960). 3. Substituted by Act 65 of 1960, Section 23, for "section 601" (w.e.f. 28-12-1960). 4. Sub-section (5A) Inserted by Act 31 of 1988, Section 13 (w.e.f. 15-6-1988) and Substituted by Act 5 of 1997, Section 5 (w.e.f. 1-3-1997). 5. Substituted by Act 53 of 2000, Section 35, for "one thousand rupees" (w.e.f. 13-12-2000).
View Complete Act List Judgments citing this sectionState Financial Corporations Act, 1951 Section 4D
Title: Issue of Redeemable Preference Shares
State: Central
Year: 1951
.....shares as it may decide into redeemable preference shares, with the prior approval of the State Government and the Small Industries Bank, by a resolution passed in the general meeting of the shareholers: Provided that such conversion shall in no case reduce the equity shares held by the parties referred to in Clauses (a), (b) and (c) of Sub-section (3) of Section 4 to less than fifty-one per cent, of the issued equity capital of the Financial Corporation. (2) The redeemable preference shares referred to in Sub-section (1) shall-- (a) carry such fixed rate of dividend as the Financial Corporation may specify at the time of such issue or conversion; and (b) neither be transferable nor carry any voting rights. (3) The redeemable preference shares referred to in Sub-section (1) shall be redeemed by the Financial Corporation in such instalments and in such manner as the Board may determine. ______________________ 1. Inserted by Act 39 of 2000, section 6 (w.e.f. 5-9-2000).
View Complete Act List Judgments citing this sectionIndian Trusts Act, 1882 Section 20A
Title: Power to Purchase Redeemable Stock at a Premium
State: Central
Year: 1882
Section 20A - Power to purchase redeemable stock at a premium 1[20A. Power to purchase redeemable stock at a premium (1) A trustee may invest in any of the securities mentioned or referred to in section 20, notwithstanding that the same may be redeemable and that the price exceeds the redemption value: Provided that a trustee may not purchase at a price exceeding its redemption value and security mentioned or referred to in clauses (c) and (d) of section 20 which is liable to be redeemed within fifteen years of the dale of purchase at par or at some other fixed rate, or purchase any such security as is mentioned or referred to in the said clauses which is liable to be redeemed at par or at some other fixed rate at a price exceeding fifteen per centum above par or such other fixed rate. (2) A trustee may retain until redemption any redeemable stock, fund or security which may have been purchased in accordance with this section.] _______________________ 1. Inserted by Act 1 of 1916, section 3.
View Complete Act List Judgments citing this sectionIndustrial Development Bank of India Act, 1964 [Repealed] Section 4E
Title: Conversion of Equity Shares into Redeemable Preference Shares
State: Central
Year: 1964
Section 4E - Conversion of equity shares into redeemable preference shares 1[ 4E. Conversion of equity shares into redeemable preference shares (1) The Central Government may, at any time after the commencement of the Industrial Development Bank of India (Amendment) Act, 1995 and by notification in the Official Gazette, convert such number of equity shares held by it not exceeding fifty crores as it may decide into redeemable preference shares. (2) The redeemable preference shares referred to in sub-section (1) shall-- (a) carry such fixed rate of dividend as the Central Government may specify at the time of such conversion, and (b) neither be transferable nor carry any voting rights. (3) The redeemable preference shares referred to in sub-section (1) shall be redeemable by the Development Bank within three years from the date of such conversion in such instalments and in such manner as the Board may determine. ] _ _____________________ 1. Inserted by Act 5 of 1995, sec. 5 (w.r.e.f. 12-10-1994).
View Complete Act List Judgments citing this sectionKarnataka Pawnbrokers Act, 1961 Section 16A
Title: Pawnbroker to Redeem Pledges
State: Karnataka
Year: 1961
Section 16A - Pawnbroker to redeem pledges 1 [16A. Pawnbroker to redeem pledges.-- (1) Where before the commencement of the Karnataka Pawnbrokers (Amendment) Act, 1979 any pawnbroker has pawned or hypothecated any pledge with any person, such pawnbroker shall, redeem the pledge within thirty days from the date of such commencement. (2) Any pawnbroker who fails to so redeem shall, on conviction, be punished with imprisonment for a term which may extend to six months and with fine which may extend to rupees one thousand: Provided that the term of imprisonment shall not be less than one month and the fine shall not be less than rupees five hundred.] ______________________________________ 1. Inserted by Act 29 of 1979 w.e.f 1.8.1979
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 sectionSmall Industries Developement Bank of India Act, 1989 Section 4A
Title: Conversion of Equity Shares into Redeemable Preference Shares
State: Central
Year: 1989
.....held in aggregateby the Development Bank, the public sector banks, the General InsuranceCorporation, the Life Insurance Corporation and other institutions owned orcontrolled by the Central Government to less than fifty-one per cent. (2)The redeemable preference shares referred to in sub-section (1) shall-- (a)carry such fixed rate of dividend as the Central Government may specifyat the time of such conversion, and (b)neither be transferable nor carry any voting rights. (3)The redeemable preference shares referred to in sub-section (1) shall beredeemed by the Small Industries Bank within three years from the date of suchconversion in such instalments and in such manner as the Board may determine.] ________________________ 1.Inserted by Act 7 of 2000, sec. 3 (w.e.f. 27-3-2000).
View Complete Act List Judgments citing this sectionTransfer of Property Act, 1882 Section 60
Title: Right of Mortgagor to Redeem
State: Central
Year: 1882
.....property. - Nothing in this section shall entitle a person interested in a share only of the mortgaged property to redeem his own share only, on payment of a proportionate part of the amount remaining due on the mortgage, except4[only] where a mortgagee, or, if there are more mortgagees than one, all such mortgagees, has or have acquired, in whole or in part, the share of a mortgagor. ________________________ 1. Substituted by Act 20 of 1929, section 22, for "payable". 2. Substituted by Act 20 of 1929, section 22, for "the mortgage-deed, if any, to the mortgagor". 3. Substituted by Act 20 of 1929, Section 22, for "order". 4. Inserted by Act 20 of 1929 section 22.
View Complete Act List Judgments citing this sectionTransfer of Property Act, 1882 Section 61
Title: Right to Redeem Separately or Simultaneously
State: Central
Year: 1882
1 [61. Right to redeem separately or simultaneously A mortgagor who has executed two ormore mortgages in favour of the same mortgagee shall, in the absence of acontract to the contrary, when the principal money of any two or more of themortgages has become due, be entitled to redeem any one such mortgageseparately, or any two or more of such mortgages together.] ________________________ 1. Substituted byAct 20 of 1929, section 24 for the original section.
View Complete Act List Judgments citing this sectionTransfer of Property Act, 1882 Section 95
Title: Right of Redeeming Co-mortgagor to Expenses
State: Central
Year: 1882
1 [95. Right of redeeming co-mortgagor to expenses Where one of several mortgagors redeems the mortgaged property, he shall, in enforcing his right of subrogation under section 92 against his co-mortgagors, be entitled to add to the mortgage money recoverable from them such proportion of the expenses properly incurred in such redemption as is attributable to their share in the property.] ________________________ 1. Substituted by Act 20 of 1929, Section 48, for the original Section 95. Original section 96 was rep. by Act 5 of 1908, Section 156 and Schedule V.
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