Right issue of share
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2012
Hi,
Please tell me whether a private company can issue Right share if not mention in AOA?
Please tell me whether a private company can issue Right share if not mention in AOA?
21 April 2012
No.
If a private company opts for Right Issue, AOA of the company must specifically provide for it. If the articles are silent, the shareholders have no pre-emption rights and the directors have the right to offer new shares to any person/s in any number.
If a private company opts for Right Issue, AOA of the company must specifically provide for it. If the articles are silent, the shareholders have no pre-emption rights and the directors have the right to offer new shares to any person/s in any number.
21 April 2012
AOA must specifically allow the issue of right shares or it must contain the clause the Table A will refer in case of no provision in AOA.
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