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Requirement of passing sr on issue of shares at premium

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Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2012 Deal All,

Greeting of the Day!!

As per Section 78 of Companies Act 1956 in Bare Act , No need to pass SR for issue of Shares at Premium.

But i have seen few replies in CAclubIndia stating that SR is required to be passed for issue of Shares at premium.

Please Clarify??

Also Clarify For Section 79!! i think OR is passed on issue of Shares at Discount!!

CS Mitesh Mehta

CS Mitesh Mehta (Expert)

09 January 2012 Special Resolution is required to be passed is for further issue of shares u/s 81/ 81(1A)

As per section 79, for issue of shares at discount ordinary resolution is required.

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2012 ok. But Section 81 and 81(1A) does not apply on Pvt Ltd Company as above matter is related to Pvt ltd Company.

Is it required in case of Pvt Ltd Company??
to pass SR on issue of Shares at Premium??

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