Form 23ac- pvt. co.

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Deepika Bhardwaj (Querist)
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25 October 2012 The Board of Drs. of a Pvt. Co., duly authorised by its articles, issued further shares to existing and new shareholders during the year. Now the Company in Form 23AC needs to specify type of further issue of shares. Pls guide will this issue be termed as:

(a) Private Placement; or
(b) Preferential issue; or
(c) Others

Ajay Mishra

Ajay Mishra (Expert)
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25 October 2012 Hi

The provision of section 81(1A) is not applicable to private limited company so the preferential issue will not be applicable.

You can use Private placement but you should also check what you have mentioned in Form-2 and Board Resolution for such allotment.

Deepika Bhardwaj

Deepika Bhardwaj (Querist)
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30 October 2012 Term 'further issue' only was mentioned in the Board resolution and form 2 also doesn't ask for such classification.

However, such issue needs to be classified in Annual e-form