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Issue of share certificate

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2010 Ours is a pvt ltd co.
We have issued allotment letter to the share holders 2 years Ago but till now no share certificates has been issued.

Is there any default on part of the company as per Companies Act.

Also whether the person to whom Allotment letter has been issued are eligible for dividend and bonus declared by the company,i.e., are they ranking parri passu with the existing share holders
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 April 2010 Please some one answer
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Rasesh

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Rasesh (Expert)
06 April 2010 Since the allotment letters are issued, I presume that the Board Resolution for allotment of shares is passed and Form 2 is filed with the ROC.

I shares are alloted, then issuance of share certificates is required within 3 months. There is a default in the above case.

Once shares are alloted, the fact that share certificates are not issued will not limit the rights of the shareholders. They are equally eligible for dividend and bonus.
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