Allotment of share

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Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 Hello Friends,

Our Company(Pvt Ltd.) wish to raise paid up capital in this week, please advise whether sections of Company Act 2013 will be applicable in that case? its urgent.
Thanks in advance.

Ajay Mishra

Ajay Mishra (Expert)

23 September 2013 Yes,

The provision of section 39 of the Companies Act, 2013 is applicable except clause (4)of that section.

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 provisions Section 39 of the Companies Act 2013, speaks only about allotment of listed Company and nothing has been mentioned about private limited company?

Ajay Mishra

Ajay Mishra (Expert)

23 September 2013 Now a days the provision of section 61 of the CA, 2013 is in applicable which deal with further issue of shares. So you can take advantage of CA, 1956 and can allot shares through Board Meeting.

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 Thanks for your reply sir, it means as Pvt Ltd Company we can allot shares by referring provision of Companies Act, 1956.

Ajay Mishra

Ajay Mishra (Expert)

23 September 2013 Yes you can allot shares through Board Meeting.

Ajay Mishra

Ajay Mishra (Expert)

23 September 2013
For Allotment of shares, following procedure will be followed:

1. Check share application and allotment money received from proposed allottee.
2. Call a Board Meeting for allotment of shares.
3. After Allotment of shares, file Form-2 with ROC with in 30 days from the date of allotment.

4. Make application for payment of stamp duty to your concern SDM (Revenue Deptt).

5. Issue of share Certificate within 3 months from the date of allotment as per section 113 of Companies Act, 1956.
6. Make entry in the Register of members of the company.
7. Make Entry in Board Minutes.

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 Thanks for your prompt reply sir.

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