ALLOTMENT OF FURHTER SHARES

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2009 Q 1 . CAN SHARES BE ALLOTED TO ONLY ONE DIRECTOR IF THE COMPANY WANTS TO RAISE THE FURTHER CAPITAL , OR THE SHARES HAVE TO BE ALLOTTED ON PROPORTIONATE BASIS TO ALL THE DIRTECTORS
Q 2 . CAN SHARES BE ALLOTED TO ONE DIRECTOR FOR THE SERVICES RENDERED TO THE COMPANY ie OTHER THAN CASH

Ankur Garg

Ankur Garg (Expert)
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18 December 2009 1. If your company is a private company--then yes.

If your company is a public company then also it is possible but with the approval of shareholders. In this you have to pass special resolution u/s 81(1A).

2. YES

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