Bare Act Search Results

Companies Act, 2013, Section 236

Title: Purchase of Minority Shareholding

State: Central

Year: 2013

.....negotiate or reach an understanding on a higher price for any transfer, proposed or agreed upon, of the shares held by them without disclosing the fact or likelihood of transfer taking place on the basis of such negotiation, understanding or agreement, the majority shareholders shall share the additional compensation so received by them with such minority shareholders on a pro rata basis. Explanation.--For the purposes of this section, the expressions "acquirer" and "person acting in concert" shall have the meanings respectively assigned to them in clause (b) and clause (e) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. (9) When a shareholder or the majority equity shareholder fails to acquire full purchase of the shares of the minority equity shareholders, then, the provisions of this section shall continue to apply to the residual minority equity shareholders, even though,-- (a) the shares of the company of the residual minority equity shareholder had been delisted; and (b) the period of one year or the period specified in the regulations made by the Securities.....

COMPANIES (APPOINTMENT OF THE SMALL SHAREHOLDERS' DIRECTOR) RULES, 2001 Complete Act

State: Central

Year: 2001

.....shareholders ceases to be a small shareholders' director on and from such date on which he ceased to be a small shareholder; (ii) he has been rendered disqualified by virtue of sub-rule (1) of rule (5); (iii) he fails to pay any call in respect of shares of the company held by him, whether alone or jointly with others, within six months from the last date fixed for the payment of the call; (iv) he absents himself from three consecutive meetings of the Board of directors, or from all meetings of the Board for a continuous period of three months, whichever is longer, without obtaining leave of absence from the Board; (v) he is a partner of any private company of which he is a director, accepts a loan, or any guarantee or security for a loan, from the company in contravention of section 295; (vi) he acts in contravention of section 299; (vii) he becomes disqualified by an order of Court under section 203; (viii) he is removed in pursuance of section 284; 7. Restriction on number of directorship.- No person shall hold office at the same time as small shareholders' director in more than two companies. Central Bare Acts

Companies Act, 1956 Section 395

Title: Power and Duty to Acquireshares of Shareholders Dissenting from Scheme or Contract Approved by Majority

State: Central

Year: 1956

.....transfer (unless on a previous transfer in pursuance of the scheme or contract it has already complied with this requirement), give notice of that fact in the prescribed manner to the holders of the remaining shares or of the remaining shares of that class, as the case may be, who have not assented to the scheme or contract; and (b) any such holder may, within three months from the giving of the notice to hi m, require the transferee company to acquire the shares in question; and where a shareholder gives notice under clause (b) with respect to any shares, the Transferee company shall be entitled and bound to acquire those shares on the terms on which, under the scheme or contract, the shares of the approving shareholders were transferred to it, or on such other terms as may be agreed, or as the1[Tribunal] on the application of either the transferee company or the shareholder thinks fit to order. ( 3 ) Where a notice has been given by the transferee company under sub-section ( 1 ) and the1[Tribunal] has not, on an application made by the dissenting shareholder, made an order to the contrary, the transferee company shall, on the expiry of one month from the date on which.....

Companies Act, 2013, Section 235

Title: Power to Acquire Shares of Shareholders Dissenting from Scheme or Contract Approved by Majority

State: Central

Year: 2013

.....company as the holder of those shares; and (b) within one month of the date of such registration, inform the dissenting shareholders of the fact of such registration and of the receipt of the amount or other consideration representing the price payable to them by the transferee company. (4) Any sum received by the transferor company under this section shall be paid into a separate bank account, and any such sum and any other consideration so received shall be held by that company in trust for the several persons entitled to the shares in respect of which the said sum or other consideration were respectively received and shall be disbursed to the entitled shareholders within sixty days. (5) In relation to an offer made by a transferee company to shareholders of a transferor company before the commencement of this Act, this section shall have effect with the following modifications, namely:-- (a) in sub-section (1), for the words "the shares whose transfer is involved other than shares already held at the date of the offer by, or by a nominee of, the transferee company or its subsidiaries,", the words "the shares affected" shall be substituted; and (b) in.....

State Bank of India Act, 1955 Section 13

Title: Register of Shareholders

State: Central

Year: 1955

.....the shares held with a depository.] (2) Notwithstanding anything contained in sub-section (1), it shall be lawful for the State Bank to keep the register of shareholders in computer floppies or diskettes subject to such safeguards as may be prescribed. (3) Notwithstanding anything contained in the Indian Evidence Act, 1872 (1 of 1872), a copy of, or extract from, the register of shareholders, certified to be a true copy under the hand of an officer of the State Bank authorised in this behalf shall, in all legal proceedings, be admissible in evidence.] ___________________ 1. Substituted by Act No. 3 of 1994, Section 5 (w.e.f. 15th October, 1993). 2. Inserted by Act No. 8 of 1997, Section 3 (w.e.f. 15th January, 1997).

Iron and Steel Companies Amalgamation Act, 1952 [Repealed] Section 7

Title: Terms of Transfer as Respects Shareholders in the Dissolved Company

State: Central

Year: 1952

.....immediately before the appointed day shall be entitled, on presentation within the prescribed period of the allotment letter and the share certificate in respect of the shares held by him in the dissolved company, to receive in due course share certificates of the Iron and Steel Company in accordance with the provisions of this Act and the rules made thereunder. (6) Any rights specified in sub--section (5) shall, during the period beginning with the appointed day and ending with the day on which the Iron and Steel Company issues fresh share certificates to the shareholders of the dissolved company, be transferable in like manner as the shares in the Iron and Steel Company themselves are transferable, and the transferees of such rights shall be entitled, upon submission of the letter of allotment, the relative share certificate in the dissolved company and the document of transfer to share certificates in the same manner and to the same extent as the transferors would have been entitled.

Industrial Development Bank of India Act, 1964 [Repealed] Section 13B

Title: Register of Shareholders

State: Central

Year: 1964

.....the date on which any person ceases to be a shareholder; and (iv) such other particulars as may be prescribed: 1 [Provided that nothing in this sub-section shall apply to the shares held with a depository.] (2) Notwithstanding anything contained in sub-section (1), it shall be lawful for the Development Bank to keep the register of the shareholders in computer floppies or diskettes subject to such safeguards as may be prescribed. (3) Notwithstanding anything contained in the Indian Evidence Act, 1872, a copy of, or extract from, the register of shareholders, certified to be a true copy under the hand of an officer of the Development Bank authorised in this behalf, shall, in all legal proceedings, be admissible in evidence. ______________________ 1. Inserted by Act 8 of 1997, sec. 13 (w.e.f. 15-1-1997).

Small Industries Developement Bank of India Act, 1989 Section 20B

Title: Register of Shareholders

State: Central

Year: 1989

.....be lawful for the Small Industries Bank to keep the register of the shareholders in computer floppies, diskettes, compact disk or any other electronic form, subject to such safeguards, as may be prescribed. (3) Notwithstanding anything contained in the Indian Evidence Act, 1872 (1 of 1872), a copy of, or extract from, the register of the shareholders, certified to be a true copy under the hand of an officer of the Small Industries Bank authorised in this behalf, shall, in all legal proceedings, be admissible in evidence. (4) The Register of beneficial owners maintained by a depository under section 11 of the Depositories Act, 1996 (22 of 1996) shall be deemed to be a Register of the shareholders for the purposes of this Act.

State Bank of India Subsidiary Banks Act, 1959 Section 21

Title: Register of Shareholders

State: Central

Year: 1959

.....or any other electronic form subject to such safeguards as may be prescribed. (3) Notwithstanding anything contained in the Indian Evidence Act, 1872(1 of 1872), a copy of, or extract from, the register of shareholders, certified to be a true copy under the hand of any officer of the subsidiary bank authorised in this behalf shall in all legal proceedings, be admissible in evidence.] ________________________ 1. Inserted by Depositories Related Laws (Amendment) Act (8 of 1997) Section 6 (w.r.e.f. 15-1-97). 2. Renumbered by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) 3. Inserted by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007)

State Bank of India Subsidiary Banks Act, 1959 Section 13

Title: Compensation to Shareholders of Existing Banks Other Than the Bank of Patiala

State: Central

Year: 1959

.....in consultation with the Reserve Bank, and shall be offered by it to all those to whom compensation is payable under sub-section (1) in full satisfaction thereof. (3) If the amount of compensation offered by the State Bank in terms of sub-section (2) is not acceptable to any shareholder of an existing bank, such share-holder may, before such date as may be notified by the Central Government in the Official Gazelle, request the Central Government, in writing to have the mailer referred to the Tribunal. (4) If, before the date notified under sub-section (3), the Central Government receives request, in terms of that sub-section, from not less than one-fourth in number of the shareholders, holding not less than one-fourth in value of the paid-up share capital of the existing bank, the Central Government shall have the matter referred to the Tribunal for decision. (5) If, before the date notified under sub-section (3) the Central Government docs not receive requests as provided in that sub-section, the amount of compensation offered by the State Bank, and where a reference has been made to the Tribunal, the amount determined by it, shall be the compensation payable under.....