Rights issue
This query is : Resolved
Yenumula.Ayyappa
(Querist)
20 February 2015
Whether private limited companies eligible to issue rights shares under companies act 1956?
CS Mitesh Mehta
(Expert)
23 February 2015
Yes.
Relevant Section 81 of the Companies Act, 1956 was mandatory for all public companies, listed as well as unlisted.
In case of private company it was necessary only if its articles specifically provide for it, otherwise the shareholders have no pre- emption rights and the directors have the right to offer new shares to any person/s in any number.
Section 62 of the companies act 2013 is applicable to private companies as well.
Relevant Section 81 of the Companies Act, 1956 was mandatory for all public companies, listed as well as unlisted.
In case of private company it was necessary only if its articles specifically provide for it, otherwise the shareholders have no pre- emption rights and the directors have the right to offer new shares to any person/s in any number.
Section 62 of the companies act 2013 is applicable to private companies as well.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
