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of <h1>Clause 53: Companies Cannot Issue Shares at a Discount, Violations Lead to Fines and Possible Imprisonment.</h1> Clause 53 of the Companies Bill, 2011, prohibits companies from issuing shares at a discount, except as allowed under section 54. Any shares issued at a discount are considered void. Companies violating this provision face fines ranging from one lakh to five lakh rupees. Additionally, any defaulting officer may face imprisonment for up to six months, a fine between one lakh and five lakh rupees, or both.
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