shares cannot be issued at discount except in case of
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Companies Act Integrated Ready Reckoner|Companies Act 2013|CAIRR. Section 53. Prohibition on issue of shares at discount. 1) Except as provided in section 54, a company shall not issue shares at a discount.
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(a) The shares to be issued at a discount must be of a class already issued.
(b) The issue must be authorised by a resolution passed by the company in General Meeting and sanctioned by the Company Law Board.
(c) Rate of discount should not be more than 10%.
(d) One year must have passed since the date at which the Company was allowed to commence business
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