Allotment of shares

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Dharmik A Jobanputra (Querist)
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07 June 2011 which resolution should be passed at the time of share allotment by private limited ? and what is the procedure for same ?

Jayashree S Iyer

Jayashree S Iyer (Expert)
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08 June 2011 For share allotment Board resolution is sufficient.

Hold a Board Meeting and pass a resolution for allotment of shares.

If shares are alloted consequent to transfer of shares, get the share transfer form (7B) duly executed by the transferor and the transferee. Pay stamp duty.

Within 30 days of allotment file Form 2 with ROC.

Issue share certificate within 90 days in case of allotment and within 60 days in case of transfer.

Make necessary entries in the Register of Members.

Dharmik A Jobanputra

Dharmik A Jobanputra (Querist)
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10 June 2011 thanks for such quick reply

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