Securities to be dealt with in stock exchanges

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... exchanges. (2) Where a prospectus states that an application under sub-section (1) has been made, such prospectus shall also state the name or names of the stock exchange in which the securities shall be dealt with. (3) All monies received on application from the public for subscription to the securities shall be kept in a separate bank account in a scheduled bank and shall not be utilised for .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nd every officer of the company who is in default shall be punishable 1[****] with fine which shall not be less than fifty thousand rupees but which may extend to 2[three lakh rupees]. (6) A company may pay commission to any person in connection with the subscription to its securities subject to such conditions as may be prescribed. ************ NOTES:- 1. Omitted vide THE COMPANIES (AMENDMENT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X