The Companies Act, 1956
[77AA. Transfer of certain sums to capital redemption reserve account.
1[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 (1) of section 80 and details of such transfer shall be disclosed in the balance sheet.]
1. Ins. by Act 21 of 1999, sec. 4 (w.r.e.f. 31-10-1998).