Distinctive no of shares
This query is : Resolved
11 July 2011
A pvt Ltd. Co. issued shares to its subscribers as follows
Class - equity
Face Value Rs.10/-
10000 shares (dist. Nos 1 - 10000) in the ratio of 2:1:1 among Mr. A, Mr.B and Mr.C
later it issued 40000 addl shares (Dist Nos 10001 - 50000) in the same ratio to the same people
Now the face value of all shares has been dropped to Re. 1/- per share resulting in 50000 shares now being 5,00,000 shares
How do we effect the change in distinctive no.s of all the shares in the shareholder's register??
Class - equity
Face Value Rs.10/-
10000 shares (dist. Nos 1 - 10000) in the ratio of 2:1:1 among Mr. A, Mr.B and Mr.C
later it issued 40000 addl shares (Dist Nos 10001 - 50000) in the same ratio to the same people
Now the face value of all shares has been dropped to Re. 1/- per share resulting in 50000 shares now being 5,00,000 shares
How do we effect the change in distinctive no.s of all the shares in the shareholder's register??
11 July 2011
According to me due to decrease in face value per share there will be no affect on distinctive number.
11 July 2011
Sir,
should not the first 10000 shares (001-10000) become 100000 (001-100000) and the next 40000 become 400000 (100001-500000). The doubt lies only in the technicality.
should not the first 10000 shares (001-10000) become 100000 (001-100000) and the next 40000 become 400000 (100001-500000). The doubt lies only in the technicality.
CA PARAS BAFNA
(Expert)
16 July 2011
Technically new share certificates are required to be issued of face value Rs.1 in exchange of the old certificates.
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