issue of pref shares
This query is : Resolved
CS Abhilasha Pandey
(Querist)
06 July 2010
Hi ,
Can a Pvt. Co. can issue pref. shares at 10 paise, the face value of these shares is Rs. 10/-. The date of incorporation of company is 22nd June, 2010.
Please reply its urgent.
Regards,
Abhilasha Pandey
Can a Pvt. Co. can issue pref. shares at 10 paise, the face value of these shares is Rs. 10/-. The date of incorporation of company is 22nd June, 2010.
Please reply its urgent.
Regards,
Abhilasha Pandey
Ankur Garg
(Expert)
06 July 2010
Hi,
If you issue shares at a price less than the face value then it would be equal to issue of shares at a discount for which to have to obtain CG approval u/s 79.
Further a company can use section 79 only after the expiry of 1 year from which company is entitled to commence business.
Kindly go through section 79.
Views of other experts solicited.
Regards
If you issue shares at a price less than the face value then it would be equal to issue of shares at a discount for which to have to obtain CG approval u/s 79.
Further a company can use section 79 only after the expiry of 1 year from which company is entitled to commence business.
Kindly go through section 79.
Views of other experts solicited.
Regards
CS Abhilasha Pandey
(Querist)
06 July 2010
Thankyou.
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