Question

As per companies Act 2013, which of the following statements are correct? 1. A company shall not issue shares at a discount except sweat shares. 2. Sweat equity shares are equity shares issued by a company to its employees or directors at a discount. 3. A penalty which may extend to an amount equal to the amount raised through the issue of shares at a discount or five lakh rupees, whichever is less.

A 1 and 2 only
B 1 and 3 only
C 2 and 3 only
D 3 only
E All correct
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