Allotment of shares

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Sanjay Jain (Querist)

15 July 2009 Is it necessary for a pvt. ltd. company to file return of allottment of shares with mca?

Also what is the time limit for it from the date of receipt of subscription money?

Also when shares to the subscriber to moa has been allotted against the co. formation expenses incurred by it and the amount of expense is more than the minimum paid up capital of 1 lac mentioned in M&AOA, then for the amt in excess of 1 lac is it necessary to file form 2?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)

15 July 2009 Form 2 to be filed to roc in case of private limited company also.

You can allot shares only to the extent of share capital. Balance remains current liability to the person.

If you want to allot shares for that also increase the capital file form 5 and then allot the shares file form 2.

Ankur Garg

Ankur Garg (Expert)

16 July 2009 Yes, a Pvt Ltd company have to file form 2 on allotment of equity shares up to the limit of its authorised capital.

For further allotment of equity shares Return of allotment is required to be submitted u/s 75 by filing form-2 with concerned Registrar of Company.

Procedure

1. First convene Board Meeting for allotment of equity shares and pass necessary board resolution for allotment.
2. Download form-2 from MCA Site www.mca.gov.in
3. Fill form-2 with in 30 days of allotment and attach list of allottee.
4. Get form-2 certified from practicing CS/CA and upload the same on MCA Site.

Regards

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