GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The issue of sweat equity shares is authorised by a special resolution passed by the company in the
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Board meeting
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General meeting
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Statutory meeting
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None of the above
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Explanation:
Detailed explanation-1: -The special resolution passed in the General Meeting shall be valid for a period of twelve months from the date of passing such resolution for the allotment of shares. The company shall not isuue sweat equity shares for more than 15% of its existing paid up equity share capital or shares of a value of Rs.
Detailed explanation-2: -The company shall maintain a Register of Sweat Equity Shares issued under section 79A in the Form specified in Schedule annexed to these rules.
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