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Discussion > Shares & Stock > Others >

Share Allotment Procedure

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manager


[ Scorecard : 29]
Posted On 19 February 2010 at 21:42 Report Abuse

Hello. I have recently joined a family owned business and have no experience in management of ROC procedures.

My question is to do with the share allottment procedure. I have been given to understand that before due formalities can be executed with ROC regarding allotment, "Share Application Form" and "Share Application Fee" are to be recieved from the persons to whom shares are to be issued?

What are the implications for the company and its directors, if Form 2, 20B have all been filed but no evidence of Share Application Form nor Share Application Fee can be found????? Can the Share Application Fee be accepted as cash (amount one lac rupees)

yrs Confused

 


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Ankur Garg
Company Secretary and Compliance Officer


[ Scorecard : 104073]
Posted On 20 February 2010 at 10:34

Hi,

 

Return of allotment is required to be submitted u/s 75 by filing form-2 with concerned Registrar of Company.

 

Procedure for allotment of equity shares

 

  1. First convene board Meeting for allotment of equity shares and pass necessary resolution for allotment.
  2. Download form-2 from MCA Site www.mca.gov.in  
  3. Fill form-2 and attach list of allottee.
  4. Get form-2 certified from practicing CS/CA and upload the same on MCA Site.

 

 

Regards



Total thanks : 1 times




Ankur Garg
Company Secretary and Compliance Officer


[ Scorecard : 104073]
Posted On 20 February 2010 at 10:36

Form-2 is required to be filed with in 30 days of allotment of shares.


If you fail to file ROC form within time then there is no need to worry at all. You may file the same at a later date with additional fee. 




ROC
manager


[ Scorecard : 29]
Posted On 21 February 2010 at 10:57

Thank you Ankur. I have three more questions.

1) IF there is an employee of the company whose salary is outstanding for a number of years, can this employee be given shares of the company in lieu of salary? What is the procedure in that case?

2) If Form 2 is being submitted, does the board resolution accompany it as an attachment?

3) If Form 2 has already been submitted, is there any procedure by which its contents can be revised if there is an indication that some mistake has occured?




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Manager


[ Scorecard : 64]
Posted On 23 August 2010 at 17:57

Dear sir, How long will it take to get form 2 approved on MCA portal? I have filed 15 days back still it is in pending status..




Ramalingam K
Founder&Director-Holistic Investment Planners


[ Scorecard : 6396]
Posted On 14 May 2014 at 13:09

How to create a workable budget that gives you extra money and life?

Budgeting is the base for financial planning. Irrespective of its very strong construction, a building becomes weak if the foundation is weak. Success of the financial plan depends on the successful budgeting. You may belong to the society of hand to mouth existence; or you may belong to the affluent society, but budgeting is very crucial for your financial strength irrespective of your background.

 

http://www.holisticinvestment.in/workable-budget

 

Regards

Ramalingam K, MBA, CFP,

Director and Chief Financial Planner,

Holistic Investment Planners

“Best Performing Financial Advisor Award” Winners from CNBC TV18

www.holisticinvestment.in



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