Allotment of share capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2010
Whether it is neccessary to get approval of shareholers for allotment of share capital if director and shareholders are same. Then it is necessary to conduct EGM
20 November 2010
Depends on type of company and authorisation by articles
22 November 2010
Hi
In case of private company, Board approval is sufficient to allot further shares. But in case of public company shareholders approvals are necessary under section 81 of the Companies Act, 1956.
In case of private company, Board approval is sufficient to allot further shares. But in case of public company shareholders approvals are necessary under section 81 of the Companies Act, 1956.
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