Issue of preference shares at premium
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2012
A private limited company issued preference shares to all of its existing shareholders at a premium.Now the amount lying in Securities Premium account + Paid up share capital is more than the authorised share capital of the Company. Is it ok or there is some non compliance?( Requisite forms - 23,5 and 2 were filed on time.)
CA Amit Jaiswal
(Expert)
20 August 2012
Amt in share capital should not exceed authorised capital.
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