Statement in lieu of prospectus

Max Payne (employed) (2569 Points)

11 August 2009  

Dear Friends,

is it necessary to file statement in lieu of prospectus to allot the shares to a director of a public company. The director has advanced the money to the company.

We have got a resolution approved by the members for alloting shares pursuant to section 81(1A) in EGM of the company.

Can anybody explain to me the procedure to be followed.