Board Resolution for issue of share certificates

This query is : Resolved

binita (Querist)
Follow

08 November 2010 Dear Experts,

Wishing you a belated happy diwali.

Is the Board Resolution(of a Pvt Ltd Co.) for issue of share certificates and delegation of signing authority required to be taken as on the date of allotment of the shares or can it be taken at a later date? Will the time limit u/s 113 of Cos Act prevail in this respect?(Urgent)

Binita.

udit sharma

udit sharma (Expert)
Follow

08 November 2010 Hi Binita!

In my opinion, generally the Board Resolution for allotment of shares covers all the 3 items i.e. allotment of shares, issue of share certificates and delegation of signing authority. Howver, you can pass a Board Resolution seperately at a later date after the allotment of shares. However, as per the provisions of section 113(1) of the Companies Act, 1956 the shares certificates has to be issued within 3 months from the date of allotment and the section applies to both Private Limited Company as well as a Public Limited Company.

Views of other eminent experts are welcome:-)

Best Regards

Udit Sharma

Ajay Mishra

Ajay Mishra (Expert)
Follow

09 November 2010 Agreed with Mr. Udit......

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Pavithra Doss

Phani

Mohit Kumar

Santosh Behera

CA Uzma Khan

Subscribe Now

Board Resolution for issue of share certificates

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA