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Shares issue in private company

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 September 2011 Hi All,

Can experts answer me that:

1) what is the procedure of issing share capital in case of Private Company?

2) Board of Directors are authorised in case of further issue of capital, if authorised by Articles of Association(AOA)? if not authorised by AOA then what to do?


Thanks in Advance!!!
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RG - A Helping Hand

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RG - A Helping Hand (Expert)
20 September 2011 Procedure of issing share capital in case of Private Company

Return of allotment is required to be submitted u/s 75 by filing form-2 with concerned Registrar of Company.

Procedure

1. First convene board Meeting for allotment of equity shares and pass necessary resolution for allotment.
2. Download form-2 from MCA Site www.mca.gov.in
3. Fill form-2 and attach list of allottee.
4. Get form-2 certified from practicing CS/CA and upload the same on MCA Site.

Board has the inherent power to allot shares and there is no need for AOA authorization.

RG
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