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[Cites 0, Cited by 1] [Section 80(1)] [Section 80] [Entire Act]

Union of India - Subsection

Section 80(1)(d) in The Companies Act, 1956

(d)where any such shares are redeemed otherwise than out of the proceeds of a fresh issue, there shall, out of profits which would otherwise have been available for dividend, be transferred to a reserve fund, to be called the capital redemption reserve account, a sum equal to the nominal amount of the shares redeemed; and the provisions of this Act relating to the reduction of the share capital of a company shall, except as provided in this section, apply as if the [capital redemption reserve account] [ Substituted by Act 65 of 1960, Section 23, for " the capital redemption reserve fund" (w.e.f. 28.12.1960).] were paid-up share capital of the company.