Issue of share certificate
This query is : Resolved
Anil Jacob
(Querist)
05 January 2009
My company have authorised share capital of Rs.500000. We have paid up capital of Rs.300000. We would like to issue the rest Rs. 2 lakhs shares to another party. Please guide me on the proceedures.
05 January 2009
Application Money may be received along with Share Application.
Place the application before the Board of Directors in their meeting for their consideration to allot the shares or reject the application.
If decided to allot, issue certificates to that effect.
Also, send a Return of Allotment on Form 2 to the concerned ROC within 30 days of such allotment.
Place the application before the Board of Directors in their meeting for their consideration to allot the shares or reject the application.
If decided to allot, issue certificates to that effect.
Also, send a Return of Allotment on Form 2 to the concerned ROC within 30 days of such allotment.
CS Arpita Rajpurohit
(Expert)
05 January 2009
plz refer section 81(1A) of the Companies Act.
Anil Jacob
(Querist)
05 January 2009
Thanks a lot. The face value of the share is Rs.10 but company will collect Rs.25 from the other party[Rs.10 face value and Rs.15 premium.] We collect Rs.10 as application money. Can we treat this 10 rupees as premium or proportionate for face value and premium?
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