Dear All,
A Private Limited Co.wants to convert its Additional Director into Regular Director.
After that it'll allot shares of 50,000/- to said director.
Kindly let me know the process to be followed for above two.
Regards..
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Additional director
Replies (6)
At AGM regularise director from additional director to regular director by filing form DIR-12 for regularisation of additional director and change in designation from additional director to director, then make a right issue offer and take right of renounciation from the existing shareholder in favour of the additional director to whom you want to regularise.
CO's Authorised Capital is 5 Lakhs wheras Paid-up Capital is 1 Lakh only. Now when additional director will be converted as regular director and will be isssued shares for 50000/-. Paid up capital will be 1,50,000/-
How to deal with above situation?
CO's Authorised Capital is 5 Lakhs wheras Paid-up Capital is 1 Lakh only. Now when additional director will be converted as regular director and will be isssued shares for 50000/-. Paid up capital will be 1,50,000/-
How to deal with above situation?
There is no problem you have authorised capital of 5 lacs you can allot upto 5 lacs there is no issue.
Regularisation can be done only in AGM??
Yes, It can only be done in AGM.
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