Question
What is the restriction on commission, brokerage,
discount, etc., on sale of shares as per the Banking Regulation Act?Solution
Section 13. Restriction on commission, brokerage, discount, etc., on sale of shares: Notwithstanding anything to the contrary contained in sections 76 and 79 of the Companies Act, 1956, no banking company shall pay out directly or indirectly by way of commission, brokerage, discount or remuneration in any form in respect of any shares issued by it, any amount exceeding in the aggregate two and one-half per cent. of the price at which the said shares are issued
Where are the headquarters of the Centre for Development of Advanced Computing?
YES Bank and ANQ's collaboration on virtual RuPay credit cards emphasizes:
Why was Vinesh Phogat disqualified from the Paris Olympics women’s 50kg final?
Which airport in India has been ranked the world ’ s 10th busiest?
Which company has collaborated with Cisco to launch Artificial Intelligence-enabled Meeting Rooms on a subscription model that will enable users to join...
Kuafu- 1 satellite recently launched is of which Country?
Which location is being considered as a potential habitat for cheetahs as part of the next phase of Project Cheetah, despite it lacking sufficient prey ...
What was the Rank of India in Global Hunger Index 2021?
A report titled “Freedom in the World 2022 – The Global Expansion of Authoritarian Rule" is released by Freedom House, a US-based NGO. India...
The Ministry of Commerce & Industry has released the 5th edition of the LEADS annual exercise - LEADS 2023 report, which provides insights into improvem...
Relevant for Exams:
