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1995 (10) TMI 189 - SUPREME COURTWhat is the meaning of the word 'each' in the expression "if the permission has not been granted by the stock exchange or each such stock exchange" used in sub-section (1A) of section 73 of the Companies Act, 1956 ? Held that:- Appeal dismissed. Sub-section (1A) of section 73 requires that where a prospectus states that an application under sub-section (1) has been made for permission for the shares or debentures offered thereby to be dealt in one or more recognised stock exchanges, 'such prospectus shall state the name of the stock exchange or, as the case may be, each such stock exchange'. Thus unless permission is granted by each or everyone of all the stock exchanges named in the prospectus for listing of shares to which application is made by the company, the consequence is to render the entire allotment void.
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