meeting
This query is : Resolved
20 October 2010
whether general meeting is required to issue shares at premium or can it be done in board meeting. and jst wanted to confirm that allotment can be made in board meeting.or we can do should the above activities in general meeting
Aditya Maheshwari
(Expert)
20 October 2010
It would depend upon the nature of your company i. e. whether the company is a private limited company or a public limited company.
In case of a private limited company the same can be done through passing it in a board resolution. No need to do the same in a general meeting.
In case of a private limited company the same can be done through passing it in a board resolution. No need to do the same in a general meeting.
Aditya Maheshwari
(Expert)
20 October 2010
In case of a public company as per section 81 only right issue of shares can be made to the shareholders. The same can be done via a board reoslution.
In case preferential allotment is made then the same needs to be passed via resolution in general meeting of shareholders.
In case preferential allotment is made then the same needs to be passed via resolution in general meeting of shareholders.
21 October 2010
It is a private company subsidiary of a limited company.
Aditya Maheshwari
(Expert)
21 October 2010
Then it is a deemed public limited company as per defination in section 3. So second case applicable to you.
Aditya Maheshwari
(Expert)
21 October 2010
Then it is a deemed public limited company as per defination in section 3. So second case applicable to you.
22 October 2010
That means it can be done through a board resolution u/s 81.????
Aditya Maheshwari
(Expert)
22 October 2010
yes if rights issue.
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