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Issue of shares at premium

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 September 2012 Dear Sirs,

There is a public company having Rs. 50 lac as Authorised Capital. Can the company issue 500000 (five lac) shares of Rs. 10 each at a premium of Rs 40/- each? in this case:

1. What are the approvals does it have to take before such issue?

2. Does it have to increase its authorised Capital to accommodate the amount of share premium?
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Ajay Mishra

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Ajay Mishra (Expert)
18 September 2012 Hi

If the Company has authorised share capital of Rs. 50,00,000 then he can issue 500000 shares of Rs. 10/- at any premium.


So, you can issue up to 500000 shares @ Rs.10 with a premium of Rs. 40/-
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
20 September 2012 Agree with Ajay ji.. No approval required.
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