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Sukhpreet Kaur, Lovely Professional University Unit 10: Share Capital

Unit 10: Share Capital Notes

CONTENTS

Objectives
Introduction
10.1 Meaning of Share Capital
10.1.1 Alteration of Share Capital
10.1.2 Reduction of Capital

10.1.3 Reduction of Share Capital without the Sanction of the Court
10.1.4 Purchase of its own Shares by a Company (S. 77)
10.2 Raising of Capital/Issue of Shares
10.3 Allotment of Shares

10.3.1 Statutory Restrictions on Allotment (Sections 69, 70, 72 and 73)
10.3.2 Effect of Irregular Allotment (Section 71)
10.3.3 Effect of Allotment of Shares in Contravention of S. 72
10.3.4 Effect of Contravention of Section 73
10.3.5 Matters Connected with Allotment of Shares

10.3.6 Return as to Allotment
10.4 General Meetings and Proceedings
10.4.1 Extraordinary Meeting (EGM) – S.169
10.4.2 Class Meetings (S. 107)

10.4.3 Point of Order
10.4.4 Minutes of Proceedings of Meeting
10.5 Accounts, Audit and Dividends
10.5.1 Maintenance of Accounts by Companies
10.5.2 Appointment of Auditors
10.5.3 Remuneration of Auditors

10.5.4 Qualification of Auditors
10.5.5 Powers and Duties or Obligations of Auditors
10.6 Inspection and Investigation
10.6.1 Discretionary Powers of the Central Government

10.6.2 Mandatory Powers
10.6.3 Powers of the Inspectors
10.6.4 Inspector’s Report (S. 241)
10.6.5 Investigation of Ownership of a Company (Ss. 247-248)
Contd.....

LOVELY PROFESSIONAL UNIVERSITY 189