Question
All monies received on application from the public for
subscription to the securities shall be kept in a separate bank account in a scheduled bank and shall not be utilised for any purpose other than_________________Solution
Section 40 Securities to be dealt with in stock exchanges - (3) All monies received on application from the public for subscription to the securities shall be kept in a separate bank account in a scheduled bank and shall not be utilised for any purpose other than— (a) for adjustment against allotment of securities where the securities have been permitted to be dealt with in the stock exchange or stock exchanges specified in the prospectus; or (b) for the repayment of monies within the time specified by the Securities and Exchange Board , received from applicants in pursuance of the prospectus, where the company is for any other reason unable to allot securities
The purposive approach to statutory interpretation:Â
Importation of a girl or boy from a foreign country for illicit intercourse under Section 141 applies if:Â
What is the term of office for the Chairperson under the IFSCA Act?
Can the extension of the period of corporate insolvency resolution process be granted more than once as per the IBC section 12?
Under Section 15 of CPC, every suit shall be instituted in?
Legitimacy of child born during valid marriage is presumed under which provision of Indian Evidence Act?
Consider the following statements regarding res gestae (part of transaction) under Section 7 of the Bharatiya Sakshya Adhiniyam, 2023:
Statement ...
Under Section 9 of the Civil Procedure Code, 1908, civil courts have jurisdiction to try all suits of a civil nature EXCEPT:Â
Which of the following is not correct statement?
As per Section 51(2), when the arrested person is a female, the examination shall be made—
