Allotment of shares

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Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2012 What is procedure for a company to allot shares to a Trust (Trust is a shareholder of a company) is there any limit to allot

Please advice me.. on this.. its very urgent

Ajay Mishra

Ajay Mishra (Expert)

17 November 2012 Hi

Society/Trust as a member

Department Clarification- A society registered under the Society Registration Act, 1860 should not be deemed to be a ‘body corporate’ within the meaning of the section 2(7) of the Companies Act, although such a society can be treated as a ‘person’ having separate legal entity apart from the members constituting it and thereby capable of being a member of a company under section 41(2) of the Companies Act, 1956. [Circular Letter, dated-24-11-1962]

Shares belonging to society held in the name of trustee simpliciter

Department Clarification-In 1957 the Department of Company Affairs was advised that the shares in the company, being the property of a charitable trust, can be held in the name of the trustee. (Extracts from Department’sFile No. 1(43)-PT/67)

Regards

Ajay Mishra

Ajay Mishra (Expert)

17 November 2012 Hi

Dear Friend

Procedure for Issue of shares Under section 81(1A) of the Companies Act, 1956

1. Hold a Board meeting for calling of General Meeting for passing resolution;
2. Send notice to all shareholders and directors
3. Hold a EGM/AGM
4. File form no. 23 with ROC with in 30 days fo passing of such resolution.
5. Call a Board Meeting for allotment of such shares
6. File Form-2 with ROC within 30 days of Allotment.

Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2012 THANKS AJAY

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