Companies amendment: authorises buy back and sweat equity, establishes investor protection fund and nomination facility. The Companies (Amendment) Act, 1999 recognises an infrastructure finance entity as a public financial institution, authorises companies to buy back their own securities, and permits issuance of sweat equity shares for know how or intellectual property consideration. It establishes a nomination facility for security holders, mandates an Investor Education and Protection Fund, creates a National Advisory Committee on Accounting Standards for Companies, and removes the need for prior Central Government approval for inter corporate investment and lending proposals.
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.
Companies amendment: authorises buy back and sweat equity, establishes investor protection fund and nomination facility.
The Companies (Amendment) Act, 1999 recognises an infrastructure finance entity as a public financial institution, authorises companies to buy back their own securities, and permits issuance of sweat equity shares for know how or intellectual property consideration. It establishes a nomination facility for security holders, mandates an Investor Education and Protection Fund, creates a National Advisory Committee on Accounting Standards for Companies, and removes the need for prior Central Government approval for inter corporate investment and lending proposals.
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