Transmision of shares

TRANSMITION OF SHARES:


Any person who becomes a nominee by virtue of the provisions of sec109A, upon the production of such evidence as may be required by the board of directors, may elect, either__


PURCHASE BY COMPANY OF ITS OWN SHARES:

Has became redundent in view of (Which permitts a company to buy-back its own shares) introduced by the companies(amendment)act,1999.


ISSUE OF SECURITIES AT A PREMIUM:


A company can always issue shares and other securities at a premium. the expresion premium is not defind in the act. it means the value of any advantage measurable in terms of money which is conferred on the company and which is over and above the cash payment on the shares issued by the company.


ISSUE OF SECURITIES AT A DISCOUNT:

A company may issue shares at a discount except as provided.

CONDITIONS FOR ISSUE OF SHARES AT A DISCOUNT:


1.shares to be of a class already issued.


2.resolution for company and senction by central goverment.


3.maximum rate of discount.


4.company working for a year.


5.shares issued to be within 2 months of sanction of tribunal.