Issue of equity share

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CS Seema (Querist)
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18 July 2013 Dear Experts, please tell me the procedure of issue of equity and preference share for an unlisted government public company.
please treat it urgent .

Ajay Mishra

Ajay Mishra (Expert)
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19 July 2013 PROCEDURE FOR ISSUE OF SHARES OF PUBLIC LIMITED COMPANY

The company can issue share in accordance with the provision of section 291, 292 and section 81 read with company’s article of association. There are following procedure or issuing and allotting shares:

1. After receiving share application money in bank account/cash, call a Board Meeting for issue and allot shares to the investor and for calling of general meeting for passing of resolution under section 81(1A) of the Companies Act, 1956.
2. Hold Board Meeting for issue of shares and approve the draft notice for general meeting;
3. Hold a General Meeting for issuing shares under section 81(1A) by passing special resolution;
4. File Form-23 with ROC with in 30 days from the date of passing of resolution;
5. Hold a Board Meeting for allotting shares to the Investor;
6. After issuing & allotting shares file Form-2 with ROC within 30 days from the date of allotment.
7. Issue shares certificate as per provisions of section 113 of the Companies Act, 1956.
8. Make entry in Minutes
9. Give the details of shareholders in Form-20B(Annual Return) with ROC annually with in 60 days from the date of AGM.

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