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      Question

      A company may issue sweat equity shares of a class of

      shares already issued if authorized by a Special Resolution which shall specify _____________
      A Offer price Correct Answer Incorrect Answer
      B Current market price Correct Answer Incorrect Answer
      C Total number of shares issued Correct Answer Incorrect Answer
      D Both (a) & (c) Correct Answer Incorrect Answer
      E Both (b) & (c) Correct Answer Incorrect Answer

      Solution

      Section 54. Issue of sweat equity shares- (1) Notwithstanding anything contained in section 53, a company may issue sweat equity shares of a class of shares already issued, if the following conditions are fulfilled, namely: — (a) the issue is authorised by a special resolution passed by the company; (b) the resolution specifies the number of shares, the current market price, consideration, if any, and the class or classes of directors or employees to whom such equity shares are to be issued

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