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Prefrential allotment u/s 81(1a)

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2012 can an unlisted public company can take share application money from existing shareholders and its associates companies before passing special resolution u/s 81(1A)?

if no, then is it mandatory to pass S/R before accepting any share application money by the Company ?

pls reply.
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Ajay Mishra

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Ajay Mishra (Expert)
24 February 2012 Hi

You can take share application money before the Board Meeting on which it will be decide to call a general meeting for issue shares under section 81(1A) of the Companies Act, 1956.

Yes it is mandatory to pass SR under section 81(1A) of the Companies Act.
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