Issue of share to more than 50 persons
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2013
Dear Sir
As per new Companies Act 2013, can a private limited Company :
01. Issue and allot shares to more than 50 Persons ?
02. Provisions regarding Opening of Separate Bank Account, Allotment of Share withing 60 days from the date of receipt of Application Money, Application money should be received only through Banking Channels and not in cash etc.
Above two para applicable to the Private Limited Company
As per new Companies Act 2013, can a private limited Company :
01. Issue and allot shares to more than 50 Persons ?
02. Provisions regarding Opening of Separate Bank Account, Allotment of Share withing 60 days from the date of receipt of Application Money, Application money should be received only through Banking Channels and not in cash etc.
Above two para applicable to the Private Limited Company
14 October 2013
Hi
As per new definition of private company, the limit of members has been increased from 50 to 200.
In your second query: This is mostly deal with public limited company.
It deal with Unlisted Public Companies (Preferential Allotment) Rules, 2003 as amended as on 14.12.2011 has not been changed.
So wait for any notification from MCA thereon.
As per new definition of private company, the limit of members has been increased from 50 to 200.
In your second query: This is mostly deal with public limited company.
It deal with Unlisted Public Companies (Preferential Allotment) Rules, 2003 as amended as on 14.12.2011 has not been changed.
So wait for any notification from MCA thereon.
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