Issue of shares
This query is : Resolved
CA.Ritu Agarwal
(Querist)
06 April 2015
What is the procedure and formalities for Issue of Shares under private placement.
Thanks.
What is the procedure and formalities for Issue of Shares under private placement.
Thanks.
06 April 2015
First of all, you should pass a resolution to increase the Authorized Share capital if the total issue and outstanding amount exceeds the current o/s level and file the RoC form SH-7 also pay the requisite fees. (Also alter the MoA)
Then pass a resolution to allot the shares and file Form PAS-3 (Attach PAS-4 available at MCA site)and pay requisite fees. Thats all.
Then pass a resolution to allot the shares and file Form PAS-3 (Attach PAS-4 available at MCA site)and pay requisite fees. Thats all.
CA.Ritu Agarwal
(Querist)
06 April 2015
It is not so simple as you say... I have enoough authorise capital. Please guide me step by step procedure for issue of share under private placement. viz offer letter, type of resolution, mgt 14, new bank account if required to be opened, valuation certificate and other forms whatever required.
06 April 2015
Okay.
1. Since the resolution mentioned is covered withing the ambit of MGT-14, you got to file MGT-14 withing 15 days.
2. Board resolution does not have any distinction btween ordinary or special. Hence, no question arises on the part of resolution.
3. Private Placement Offer Letter is available at MCA Site- PAS-4. Download it and fill up the relevant info.
4. Then accept the application fees through a bank account only so as to give an attachment with that form.
5. Do allot the shares and file MGT-14 for that along with PAS-3.
These are the steps in my knowledge.
1. Since the resolution mentioned is covered withing the ambit of MGT-14, you got to file MGT-14 withing 15 days.
2. Board resolution does not have any distinction btween ordinary or special. Hence, no question arises on the part of resolution.
3. Private Placement Offer Letter is available at MCA Site- PAS-4. Download it and fill up the relevant info.
4. Then accept the application fees through a bank account only so as to give an attachment with that form.
5. Do allot the shares and file MGT-14 for that along with PAS-3.
These are the steps in my knowledge.
CA.Ritu Agarwal
(Querist)
06 April 2015
What about valuation certificate from C.A. for value of shares if issued at premium.
06 April 2015
Sorry, I'm not sure about it.
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