split of shares
This query is : Resolved
CA VIKASH AGARWAL
(Querist)
16 November 2009
we are spliting shares in a private limited company
what is the legal requriment of split of shares
what is the legal requriment of split of shares
C.A.Amitabh Gupta
(Expert)
17 November 2009
Splitting of shares should be permitted within AOA, if not, AOA should be altered to include the provisions for splitting ( sub-division ) of shares. Then a Board Meet should be called after giving notice to all directors to decide abt the sub-division of shares and to fix up the time, place and agenda for General meeting. In the General Meeting a resolution to be passed for splitting of shares. Then the notice of sub-division of shares to be filed with ROC in Form 5 within 30 days. Also make necessary changes in share certificates, records, documents and registers of company.
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