Auditors' certificate requirement: directors must present auditor confirmation of compliance when sweat equity shares are issued before shareholders. The board must place before shareholders at the general meeting following an issuance of sweat equity a certificate from the auditors confirming the issue complied with the Regulations and with the company resolution authorizing the sweat equity shares.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Auditors' certificate requirement: directors must present auditor confirmation of compliance when sweat equity shares are issued before shareholders.
The board must place before shareholders at the general meeting following an issuance of sweat equity a certificate from the auditors confirming the issue complied with the Regulations and with the company resolution authorizing the sweat equity shares.
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