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Prohibition on issue of shares at discount

Section 53 - Acts - SHARE CAPITAL AND DEBENTURES - Companies Act, 2013 - Section 53 - 53. (1) Except as provided in section 54, a company shall not issue shares at a discount. (2) Any share issued by a company at a 1[discount] shall be void. 2[(2A) N .....

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ith any guidelines or directions or regulations specified by the Reserve Bank of India under the Reserve Bank of India Act, 1934 (2 of 1934) or the Banking (Regulation) Act, 1949 (10 of 1949).] 3[(3) Where any company fails to comply with the provisi .....

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any shall also be liable to refund all monies received with interest at the rate of twelve per cent. per annum from the date of issue of such shares to the persons to whom such shares have been issued.] ******************** Notes:- 1. Substituted vid .....

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