26 April 2010
Can a Private Company issue equity shares at partly paid premium. Let say A pvt ltd issue 10000 shares @ Rs. 200 in which Rs. 10 is face value and 190 is for premium. Now the company wants to allot shares for Rs. 100 (Partly paid up viz includes Rs. 10/- for Face value and Rs. 90/- for premium). Can the company do so???????????? Help me in this
26 April 2010
If rs. 10/- face value is alloted then the share will become fully paid up and not partly paid up.
If face value is Rs. 5/- then partly paid share and the same can be issued subject to that the share application form contains the details that the shares are partly paid up.
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