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TMI BlogPower to issue shares at a discount.X X X X Extracts X X X X X X X X Extracts X X X X ..... f a class already issued, if the following conditions are fulfilled, namely: ___ (i) [1] the issue of the shares at a discount is authorised by a resolution passed by the company in general meeting and sanctioned [2] by the [3] [Central Government]; (ii) the resolution specifies the maximum rate of discount [4] [* * *] at which the shares are to be issued: [5] [ Pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay apply to the [10] [Central Government] for an order sanctioning the issue; and on any such application, the [11] [Central Government], if having regard to all the circumstances of the case, it thinks proper so to do, may make an order sanctioning the issue on such terms and conditions as it thinks fit: [12] [Provided that in the case of revival and rehabilitation of sick industrial c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w.e.f. 1-4-2000. On notification of the commencement of the amendment, power will be transferred to the Central Government. [3] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002, w.e.f a date yet to be notified. Earlier the quoted words substituted for Court by the Companies (Amendment) Act, 1974, w.e.f 1-2-1975. [4] (not exceeding ten per cent or such hi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or Court by the Companies (Amendment) Act, 1974, w.e.f. 1-2-1975.by the Companies (Second Amendment) Act, 2002. [10] Substituted for "Company Law Board" Earlier the quoted words were substituted for Court by the Companies (Amendment) Act, 1974, w.e.f. 1-2-1975.by the Companies (Second Amendment) Act, 2002. [11] Substituted for "Company Law Board" Earlier the quoted words were substitut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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