Allotment of shares of unlisted public company

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2012 Dear All,
Pl advise.
Unlisted public company has received share application money from existing shareholder as well as new member who are relative of existing shareholder.
In 2011 co has allotted shares on pref allot basis. Now which procedure has to follow by co for allot of shares.if it is pref allot then what shud be time gap bet two prf allot?

Thanks in anticipation.

Ajay Mishra

Ajay Mishra (Expert)
Follow

28 August 2012 Hi

The Section 81(1A) of the Companies Act, 1956 and Rules made there under not specifically mentioned about time gap between two preferential allotment.

It will depend on the company management, how they will deal such matter subject to the company's articles.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now