Intimation to the allottee to be done when?

Dear members,

Our company is a listed company n on 31.12.2010 EGM was conducted to allot shares on preferential baiss to an N.R.I ...the allotment was approved by the shareholders..

n we intimated the N.R.I confirming their allotment on 03.01.2011... soo are we violating any provisions that the intimation is not done on same day of the allotment i.e 31.12.2010

is there any povision regarding the above...if yes then where??

Regards

CS Mayuri Lal

Hello!

I dont think so that u have violated any provision under law. In Co Act Sec 81 deals with further issue of capital and sec 75 of co. act deals with allotment of shares. And its only talks about to intimate the ROC within 30 days of allotment. ......Rest ur co. is a listed co. so u also need to follow the listing agreement. In which too there is no such violation of provisions regarding intimation to the allottes of allotment......

Rest further clarification and views are solicited.

Regards

Nidhi

Hi

You should send the details procedure of EGM to Stock Exchanges, promptly.  If you have done the same  you have complied the said requirements.

Regards

Agree with Nidhi...

Thank u members...

yes, we hav submitted the outcome and the minutes of the EGM to the stock exchanges