Query on CARO-Preferential allotment
This query is : Resolved
13 December 2010
Where a private limited company having four shareholders (being relatives) holding 25% each of the share capital of the company , are allotted shares in equal proportions at a value of , say, Rs.10 while the book value of shares is, Rs. 50, would it be reportable under the clause 4(xviii)of CARO 2003 - preferential allotment of shares to 301 parties?
13 December 2010
If it is like right issue of shares then it should not be included as there is no preference in the same.
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