Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Shares Issued At A Premium:
A company may at times issue its shares at a price above their nominal value, i.e at a premium. This may be necessitated by the fact that the company's shares which have already been issued are being sold in the open market at a price which is above their nominal value. Since such an issue does not jeopardize the position of the company's creditors there is no legal requirement that the issue be confirmed by the court. However, Section 58 (1) provides that where a company issues shares at a premium, where for cash or else or there may a sum equal to the aggregate amount or value of the premiums on those shares shall be transferred to an account called "the share premium account". However the section further offers that the share premium account shall be governed by the provisions of the Companies Act relating to the reduction of the share capital of a company as if the share premium account were paid share capital of the company. This means, in effect, that the funds credited to the share premium account are not paid out by the company except in the legitimate course of its business.
Sub-section 2 provides that the share premium account may however be applied by the company:
a) To pay up unissued shares of the company which are to be issued to members of the company as fully-paid bonus shares;
b) To write off the preliminary expenses of the company;
c) To write off the expenses of any issue of shares or debentures of the company, or the commission paid or discount allowed on such issue, or
d) To provide for the premium payable on redemption of any redeemable preference shares or debentures of the company
Revival of a Dissolved Company: Liquidation leads on to dissolution of the company. The court may, however, within the ensuing two years order that dissolution be rescinded a
Liabilities In Respect Of Prospectuses: 1. CRIMINAL LIABILITIES i) Issuing a form of application unaccompanied by a full prospectus: a fine not
Question 1: Critically analyse the major changes brought to Industrial Relations by the Employment Relations Act 2008? Question 2: Write short notes on the followings:
Select an existing business that utilizes short, medium, and long-term strategic planning. You may also use your own company. Consider how the organization's operational-level plan
Payment to Promoters: A promoter has no legal right against the company he promotes. The main reason is that the company did not ask him to promote it, and because the compa
Bills: Further an Act of Parliament begins as a Bill that is the draft of law that Parliament intends to make. In section 46(1) of the constitution states like "the legislati
The policy process - Advocacy coalitions and Policy learning The mobilization of attention is what policy advocacy is primarily about. And the systematic mobilization of attent
State the International Policy Coordination There may be two sources of interdependence between national economic policies, club goods and horizontal spill overs. The first has
Topic: "Imagine yourself in a situation of being encouraged to inflate your expense account. Do you think your choice would be most affected by your individual moral development o
Civil Law: Further civil law is affected with violations of private rights in their corporate or individual capacity egg breach of contract, negligence, defamation, nuisance,
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd