Re: allotment of shares

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Bipin Bhutada (Querist)
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15 September 2013 A company has recently been formed. In Form 1,18,32,I conveyed to the MCA portal that the 1st subscribers to the company were 2 individuals. Now they want to add a 3rd person and allot shares in equal amount.

Kindly let me know the procedure to do the same.

Ajay Mishra

Ajay Mishra (Expert)
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16 September 2013 Hi

If you have got the COI from ROC, then you can not add 3rd person name in subscriber sheet of MOA.

You will issue fresh shares to new person by passing of resolution.

If it is private company, then Board Resolution is sufficient for allotment of shares.

Ajay Mishra

Ajay Mishra (Expert)
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16 September 2013
For Allotment of shares, following procedure will be followed:

1. Check share application and allotment money received from proposed allottee.
2. Call a Board Meeting for allotment of shares.
3. After Allotment of shares, file Form-2 with ROC with in 30 days from the date of allotment.

4. Make application for payment of stamp duty to your concern SDM (Revenue Deptt).

5. Issue of share Certificate within 3 months from the date of allotment as per section 113 of Companies Act, 1956.
6. Make entry in the Register of members of the company.

Regards

Bipin Bhutada

Bipin Bhutada (Querist)
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16 September 2013 Thank you very much sir for the answer.

Ajay Mishra

Ajay Mishra (Expert)
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16 September 2013 My Pleasure.........

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