Re - issue of forfeited shares
This query is : Resolved
Guest
Guest
(Querist)
19 January 2012
Is a listed company required to file Form 2 with the ROC in case it re - issues forfeited shares ?
CS Pawan Kumar Baid
(Expert)
19 January 2012
No. Form 2 is filed only on allotment of shares. Allotment means appropriation of capital out of previously unappropriated capital.
As shares, which are forfeited, has already been appropriated, and hence its re-issue does not called appropriation (or allotment)hence it does not require filing of Form 2.
As shares, which are forfeited, has already been appropriated, and hence its re-issue does not called appropriation (or allotment)hence it does not require filing of Form 2.
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