Issue of share

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 November 2012 Dear All

Suppose we had issued 500 shares in favour of A, now we want to cancel the same issue fresh share in favour of 400 shares to B and 100 shares to C. Can we do that what are the formalities required

Ajay Mishra

Ajay Mishra (Expert)
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16 November 2012 Hi

If you have allotted same shares and you have received the amount from shareholders against it then you can not cancel the allotment.

Please also check, whether your company articles says about cancellation of shares.

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