Further issue of shares by a private company

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Mohit Batra (Querist)

18 March 2016 Please tell me how a pvt company may issue further shares .. Company don't want to make private placement.. Please tell me the procedure, company wants to issue further shares to members as well as non member

c.bakshi

c.bakshi (Expert)

19 March 2016 you have to go with RIGHT issue of shares as per companies act, 2013 and section 62 needs to be comply with. first letter of offer issued to shareholders and then after conducting board meeting allot them shares who are interested to take share of the compny.

Mohit Batra

Mohit Batra (Querist)

19 March 2016 Sir thanks for your quick reply.. But sir some are the nonmembers. Company can go through 62(a)(1) ? after that board resolution is sufficient ?

Mohit Batra

Mohit Batra (Querist)

19 March 2016 Sir thanks for your quick reply... Sir proposed allottees are mostly non holders . Can we go through section 62 (a)(1) ? Same procedure in case of allotment of preference shares

BUNNY SEHGAL

BUNNY SEHGAL (Expert)

23 March 2016 for this purpose transfer some shares to those persons. now comply section 62(1)(a). the existing shareholders who don't want to subscribe shares can renunciate.

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