1.No provision is required in the articles to issue securities at premium whereas ordinary resolution is passed in GM to issue shares at discount.
What is the reason for difference in above provision?
2. The shares to be issued at discount must belong to the class of shares already issued by the company.
Here what do we mean by class of shares?
3.Maximum rate of disc. should not exceed 10%. However CLB may sanction issue of shares at discount exceeding 10% in special circumstances/
Here what can be these special circumstances?
CAclubindia
