Notification No. G.S.R. 265(E), dated 15/05/1997

MINISTRY OF FINANCE
(Department of Company Affairs)
NOTIFICATION
New Delhi, the 15th May, 1997

G.S.R. 265(E).—In exercise of the powers conferred by sub-section (1) of Section 641 of the Companies Act, 1956 (I of 1956), the’ Central Government hereby makes the following further alterations in Schedule II to the said Act, namely :—

2. In the said Schedule, in Part 1, in clause 1 relating to General information after sub-clause (k), the following sub-clause shall be inserted, namely :-

“(1) a statement by the board of directors stating that‑

(i)  all monies received out of issue of shares or debentures to public shall be transferred to a separate bank account other than the bank account referred to in sub-section (3) of section 73;

(ii) details of all monies utilised out of issue referred to in sub-item (i) shall be disclosed under an appropriate separate head in the Balance Sheet of the company indicating the purpose for which such monies had been utilised; and

(iii) details of all unutilised monies out of iSSue of shares or debentures, if any, referred to in sub-item (i) shall be disclosed under an appropriate separate head in the Balance Sheet of the company indicating the form in which such unutilised monies have been invested.” –

[File No. 17/32/93-CL. Vol. II]

R. D. JOSHI, Jt. Secy.

Note ::—The Schedule was amended Vide :

1.   G.S.R. G.S.R.N. 666(E) dated 3-10-1991.

2.   Depositor Act, 1996 (22 of 199(9..