26 May 2009
I AM IN PVT LTD COMPANY. 6 MONTHS BACK WE HAVE ISSUED SOME SHARES OF 1,00,000/- TO A MEMBER. NOW WE HAVE TO SPLIT THOSE SHARES INTO 4 PARTS OF 25,000/- EACH. WHAT IS THE PROCEDURE ?? ITS QUIET URGENT PLEASE..
27 May 2009
To split the shares you have to cancel the share certificate earlier allotted to the shareholder.For that purpose you have to pass a board resolution to cancel the existing share certificate and issue new certificates by spliting it in the proportion desired by the company.
27 May 2009
THANK YOU. SOME MORE DOUBTS: 1. DO WE NEED CONSENT / SIGNATURE FROM SHAREHOLDER TO CANCEL THE CERTIFICATE? 2. DO WE NEED TO PAY STAMP DUTY AGAIN FOR THE SPLIT SHARES?? 3. HOW TO DOCUMENT THIS IN SHARE LEDGER? QUIET URGENT...
CAclubindia
