Form 23 for a complete year?

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Anand (Querist)

14 July 2012 If a Public Company Passes a Special resolution at an EGM held at the start of the year and approves say 100000 shares to be issued during the year and mentions in the said resolution that the same should be in effect for next 12 month can same Form 23 ( Special Resolution ) be used for filling
In month of May for issue of 25000 shares
In Month of August for issue of next 30000 shares
And in the month of Nov for next 45000 shares

What I actually want to know that can 1 form 23 ( SRN ) registered in April be used for allotment during the year?

Ajay Mishra

Ajay Mishra (Expert)

15 July 2012 Hi

If your EGM is held in for example, January 2012 for issue of shares 100000 under section 81(1A) of the Companies Act. You will file Form-23 with in 30 days from the date of passing of resolution for passing SR under section 81(1A) of the Companies Act, 1956.

If you are allotting these shares as and when the company has received allotment money then you will file Form-2 with ROC from the date of allotment giving the details of allotties with SRN approving the issue of shares. You will use SRN of Form-23 for every allotment in Form-2 until these 100000 shares are allotted to investors.

Please keep in mind Form-23 id for issue of shares and Form-2 is for allotment of shares.