alleryStart learning →A default in complying with Section 68 attracts a fine on the company and officers of
ARs 5 lakh to Rs 10 lakh
BRs 50,000 to Rs 1 lakh
CRs 1 lakh to Rs 3 lakh
DRs 3 lakh to Rs 5 lakh
Answer & Solution
Correct answer: C. Rs 1 lakh to Rs 3 lakh
The fine for default under Section 68 starts at Rs 1 lakh and may extend to Rs 3 lakh.
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Under Section 68, specified securities includeAfter a buy-back, a remaining investor's proportionate ownershipThe details of the transfer to capital redemption reserve are to be disclosed in the40,000 shares of face value Rs 5 are bought back at Rs 9. Equity share capital is debited Which can absorb the premium paid on a buy-back?Shares that a company has bought back areWithin six months after a buy-back, a company may still make aThe register of bought back shares is kept at the company's