Discuss the provisions of the Companies Act, 1994 as to the issue of shares at a discount

Following rules relates to the issuance of shares at a Discount:

1.It should be an existing company which has issued share earlier;
2.Court permission must be taken and to be confirmed at Annual General Meeting;
3.Maximum rate would be 107, which is to be confirmed at Annual General Meeting;
4.The Company shall not issue share at a discount within one year from the date of commencement of business;
5.The shares to be issued within 6 months from the date of the approval of the Court to issue share at a discount.