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Companies Act, 1956

Sec 77AA    -     Transfer of certain sums to capital redemption reserve account

Where a company purchases its own shares out of free reserves, then a sum equal to the nominal value of the share so purchased shall be transferred to the capital redemption reserve account referred to in clause (d) of the proviso to sub-section (l) of section 80 and details of such transfer shall be disclosed in the balance sheet.

Companies Act, 1956 Back

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