Rule 44 - Petition for sanctioning the issue of shares at a discount. - Company Court Rules, 1959

[19] lssue of Shares at a Discount (Section 79) Petition for sanctioning the issue of shares at a discount. 44. A petition under section 79 to sanction the issue of shares at a discount, shall be in Form No. 17, and where the rate of discount proposed is higher than ten per cent, it shall be accompanied by the order of the Central Government sanctioning the higher rate in addition to the documents set out in Appendix II. ----------------------------------- Notes:- [19] Powers of the Court have been conferred on the Company Law Board by the Companies (Amendment) Act, 1974, w.e.f. 1-2-1975.