Accounts
Querist : Anonymous
offered by the company to the
existing shareholders.Simply stated
the existing shareholders have a
right to subscribe for the shares
which are offered by the company
after initial allotment until some
special right is reserved for any
other person by special resolution in
this respect.
Section 81 i.e Further issue of capital
of companies act 1956 deals with this
and it states that where at any time
after the expiry of two years from
the formation of a company or at
any time after the expiry of one year
from the allotment of shares in that
company made for the first time
after its formation, whichever is
earlier, it is proposed to increase the
subscribed capital of the company by
allotment of further shares.
Pre-emption rights are the rights of shareholders to be offered any new issue of shares before the shares are offered to non-shareholders.
The purpose of pre-emption rights is to ensure that shareholders have an opportunity to prevent their stake being diluted by new issues.
Querist : Anonymous
Querist : Anonymous
Tax- Girish Ahuja / V.K Singhania
Accounts- P.C. Tulsian
Law- Munish Bhandari
However, Ins. Practice manuals and RTPs are must to score good marks..
regards,
Querist : Anonymous
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