Unlisted public companies (preferential allotment) rules, 20

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prakash kumar (Querist)
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07 April 2012 As per amended unlisted public companies (Preferential allotment) Rules, 2003, Companies are required to provide the details of persons to whom allotment is proposed to be made in the resolution passed by members under sec. 81(1A). What if the comapny wants to issue those scurities to any person other than those mentioned in the past resolution?

Ajay Mishra

Ajay Mishra (Expert)
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07 April 2012 Hi

As per Section 81(1A) read with amended Rule, now it is mandatory to give the details of the person to whom the shares are proposed to be allotted.

As proviso of preferential allotment definition says:

Provided that the name, father’s name, address and occupation of the person to whom such allotment is proposed to be made shall be mentioned in the resolution passed by the members under that sub-section.

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