Compliance with the notification of exemption issued under section 56(2)(viib)

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....otification of exemption issued under section 56(2)(viib) The provisions of section 56(2)(viib) of the Act provides for charging of the consideration received for issue of shares by certain companies....

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.... ensure compliance to the conditions specified in the notification, it is proposed to provide that in case of failure to comply with the conditions, the consideration received for issue of shares whic....