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compliance requirements with respect to shares

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 January 2011 dear all,
what are the compliance requirements for receiving share applications and making share allotment by a pvt ltd co. whether any registers are to be maintained.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
27 January 2011 1) On receiving share applications, scrutinise the application and decide the list of allottees.
2) Convene a Board Meeting and get the approval of the Board for allotment. In the same Board Meeting authorise 2 directors and Company Secretary for signing the Share Certificate and affixing the common seal of the company.
3) Issue share certificate affixing stamp duty as applicable i.e. 50ps for every Rs.1000/- value.
4) Make necessary entry in the Register of Members.
5) If the allottes are Directors, make entries in the Register of Directors Shareholdings as well.
6) File Form 2 for share allotment attaching the list of allottees within 30 days of allotment.
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