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SHARE CAPITAL AND DEBENTURES - Proposed Amendments in the Companies Act 2013

News and Press Release - Dated:- 2-2-2016 - Prohibition on Issue of Shares at Discount 4.1 Sub-section (1) of Section 53 of the Act prohibits issue of shares at a discount. Sub-section (2) makes the issue of shares at a discounted price void. The Committee noted that the use of the words discounted price could be interpreted to mean a price lower than the market value of shares, and not lower than its nominal value, as intended in sub-section (1). To remove the ambiguity, it recommended that the .....

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