Companies Act, 1956
Section - 79 - Power to issue shares at a discount
Power to issue shares at a discount.79. (1) A company shall not issue shares at a discount except as provided in this section.(2) A company may issue at a discount shares in the company of a class already issued, if the following conditions are fulfilled, namely,— (i) the issue of the shares at a discount is authorised by a resolution passed by the company in general meeting and sanctioned by the [Central Government]; (ii) the resolution specifies the maximum rate of discount [* * *] at which the shares are to be issued : [Provided.... To read the full section download the app from Google Play store
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