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Equity shares

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This query is : Resolved

Panduranga (Querist)

06 October 2010 Ours is a Pvt Ltd co. Our authorised capital is 45,00,000/-,and paid up capital is 20,00,000 We are taking some share capital from our promoters. what is the procedure we have to follow

Thanks

Ankur Garg

Ankur Garg (Expert)

06 October 2010 In that case you have to allot equity shares to your promoters against the cash received from them. Through this process your paid up capital stands increased accordingly.

Procedure for allotment of equity shares

Return of allotment is required to be submitted u/s 75 by filing form-2 with concerned Registrar of Company.

Procedure

1. First convene board Meeting for allotment of equity shares and pass necessary resolution for allotment.
2. Download form-2 from MCA Site www.mca.gov.in
3. Fill form-2 and attach list of allottee.
4. Get form-2 certified from practicing CS/CA and upload the same on MCA Site.

Regards

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