allotment of shares

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Amritorupa Kanjilal (Querist)
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03 June 2010 A pvt ltd company needs to allocate shares beyond authorised share capital limit, by 31st may 2010.

The EGM approving the increase in authorised share capital was held on 10th May. I filed form 5 on20th may, I got the approval from MCA on 3rd June. Now can i file Form 2 showing the date of board meeting as before 31st may(paper meeting) ? Is it allowed to allocate shares before form 5 has been approved?

Please help!

Ankur Garg

Ankur Garg (Expert)
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04 June 2010 Hi,

You can held your board meeting for allotment of further equity share any time after May 10, 2010 i.e. after holding EGM. File form-2 for allotment after approval of form-5 for increase in AC i.e. after June 03, 2010.

In other words there is no need to wait for the approval of form-5 by ROC for allotment of equity shares. You can allot shares immediately after EGM. But it is advisable to submit form-2 after approval of form-5 by ROC.

Revert if there is any doubt.

Thanks

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