Companies Act, 1956

Section - 79A - Issue of sweat equity shares

[Issue of sweat equity shares.

79A.    (1) Notwithstanding anything contained in , a company may issue sweat equity shares of a class of shares already issued if the following conditions are fulfilled, namely :—

         (a)  the issue of sweat equity shares is authorised by a special resolution passed by the company in the general meeting;

         (b)  the resolution specifies the number of shares, current market price, consideration, if any, and the class or classes of directors or employees to whom such equity shares are to be issued;

          (c)  not less than one year has, at the date of the issue, elapsed since the date on which the company was entitled to commence business;

         (d)  .... To read the full section download the app from Google Play store