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allotment of pvt ltd co shares as per agreement (Corporate Law)

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( Author )
20 October 2007

A pvt co. acquire space in warehouse. Pvt co. needs money for this project. Existing Shareholders refuse verbally to acquire shareholding. Co. director search financers for the project. They find appropriate financer. But problem is that financer wants equity share capital (option with buy back ) in the company as a security of his money. Can the co. allots to third party i.e. financer the share of pvt. ltd. co. If yes , then wht type of agreement has to be draft ?


S.RAVICHANDRAN

( Expert )
20 October 2007

The same answer as given to your earlier question.


Srinath A. N.

( Expert )
22 October 2007

First issue offer letter to existing shareholders and take refusal letters from them for subscribing to the sahres of the Company. Then allot shares to the non-members (total number of members shall not exceed 50). In case you required you may enter in to Share Subscription agreement with the non-member and take signature of all existing shareholders for the agreement as safe step.


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