The Companies Act Sections
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Transcript of The Companies Act Sections
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AS AMENDED UP-TO-DATE
IMPORTANT SECTIONS
IN THIS ACT
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SECTIONS TO BE REMEMBER Sec 75 : Return of allotments
Sec 76: Power to pay certain commissions andprohibition of payment of all other commissionsdiscounts, etc.
Sec 77: restrictions on purchase by company or loansby company for purchase of its own or its holdingcompanys shares .
Sec 77A: power of company to purchase its ownsecurities.
Sec 77AA: transfer of certain sums to capitalredemption reserve account.
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Coned.. Sec 77B: prohibition for buy-back in certain
circumstances.
Sec78: application of premiums received on issue ofshares.
Sec79: power to issue shares at a discount.
sec79A: issue of sweat equity shares.
Sec80: power to issue redeemable preference shares. Sec81: further issue of capital.
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Contd Sec94: power of limited company to alter its share
capital.
Sec99: reserve liability of limited company. Sec100: special resolution for reduction of share
capital.
Sec101: application to tribunal for confirming order,
objectives by creditors, and settlement of list ofobjective creditors.
Sec102: order confirming reduction and powers oftribunal on making such order.
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Contd. Sec103: registration of order and minute of reduction.
Sec104: liability of members in respect of reducedshares.
Sec105: penalty for concealing name of creditor, etc.
Sec108: transfer not to be registered except onproduction of instrument of transfer.
Sec109: transfer by legal representative.
Sec110: application of transfer.
Sec111: power to refuse registration and appeal againstrefusal.
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Contd. Sec193: minutes of proceedings of general meetings
and of board and other meetings.
Sec209: books of account to be kept by company. Sec224: appointment and remuneration of auditors.
Sec226: qualifications and disqualifications ofauditors.
Sec227: power and duties of auditors. Sec228: audit of accounts of branch office of company.
sec233: power of central government to direct special
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contd.Audit in certain cases.
sec233B: audit of cost accounts in certain cases.
Sec349: determination of net profits.
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These are the important
sections to rememberrequired for c.law(ipcc)
Prepared by giridhar(ipcc)
But these are important.