Mgt 14

This query is : Resolved

POOJA (Querist)
Follow

03 March 2015 Dear sir,

Whether MGT 14 has to be filed before filing PAS 3?.
Authorised capital is already increased. Now we want to allot the shares.Please send me the procedure for allotment of Shares.Whether we have to prepare board resolution for the same?

Thank You

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

03 March 2015 MGT-14 has to be filed first because clause 3(ii)(b) of e-form PAS-3 is asking SRN of MGT-14.

For allotting shares board resolution has to be necessarily passed and certified copy of the said resolution and list of allottees (in the prescribed format ie. Table -A and Table-B)has to be attached (mandatory) with e-form PAS-3.

Message likes : 1 times

POOJA

POOJA (Querist)
Follow

04 March 2015 Dear sir,

can you please tell me attachments for mgt or send me the format of attachments which has to be attatched for MGT 14?.Authorised share capital is already increased in first allotment.Now we want to allot shares in second allotment.

Thank you.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
Follow

03 August 2024 ### MGT-14 and PAS-3 Filing Process for Share Allotment

**1. **Filing MGT-14 and PAS-3:**

**MGT-14** is used to file resolutions with the Registrar of Companies (RoC). It needs to be filed for certain resolutions passed by the Board of Directors or shareholders, which includes resolutions for increasing the authorized share capital.

**PAS-3** is used to notify the RoC about the allotment of shares. It should be filed after the shares have been allotted.

Here’s the procedure you should follow:

**A. Increase in Authorized Share Capital:**

1. **Resolution to Increase Authorized Capital:**
- The company should first pass a special resolution to increase its authorized share capital.
- The resolution must be filed with the RoC using MGT-14.

2. **Filing MGT-14:**
- **Attachments for MGT-14:**
- Copy of the special resolution passed by the shareholders.
- Copy of the explanatory statement.
- Notice of the meeting where the resolution was passed.
- **Timeline:** MGT-14 should be filed within 30 days of passing the resolution.

**B. Share Allotment:**

1. **Board Resolution for Allotment:**
- A board resolution should be passed to allot shares. This resolution should detail the number of shares allotted, the allotment date, and the names of allottees.

2. **Filing PAS-3:**
- **Attachments for PAS-3:**
- Return of allotment (Form PAS-3) including details of the allotment.
- A copy of the board resolution approving the allotment.
- Proof of payment received for shares (if applicable).
- **Timeline:** PAS-3 should be filed within 30 days of the allotment of shares.

### Procedure for Share Allotment:

1. **Board Meeting:**
- Convene a Board Meeting to pass the resolution for allotment of shares.
- The resolution should include details of the share allotment, including the number of shares, the allottee's names, and the allotment date.

2. **Issue of Share Certificates:**
- Prepare and issue share certificates to the allottees.

3. **Update Register of Members:**
- Update the Register of Members with the details of the new allotment.

4. **Filing PAS-3:**
- File PAS-3 with the RoC, attaching the necessary documents as mentioned.

### Example of Board Resolution for Share Allotment:

```markdown
**BOARD RESOLUTION FOR ALLOTMENT OF SHARES**

Date: [Date]

**Resolution No. [Resolution Number]**

"RESOLVED THAT, pursuant to the provisions of the Companies Act, 2013 and other applicable laws, and subject to the approval of the Registrar of Companies, the following shares be allotted to the persons mentioned below:

1. [Name of Allottee] – [Number of Shares]
2. [Name of Allottee] – [Number of Shares]

RESOLVED FURTHER THAT, the allotment of the above shares shall be effective from [Allotment Date], and the necessary entries be made in the Register of Members and Share Certificates be issued to the allottees.

RESOLVED FURTHER THAT, [Name of Director/Company Secretary] be and is hereby authorized to sign and file all necessary forms with the Registrar of Companies and to do all acts and things necessary to give effect to the above resolution."

**For [Company Name]**

[Name of Director/Company Secretary]
[Designation]
```

**Note:** Always verify the requirements and timelines with the latest regulations and seek professional advice if needed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now