Allotment by unlisted public company(to only of the existing

Dear Members,

An unlisted Public Company proposes to allot shares to ONLY one of the existing shareholder of the Company. There are 15 shareholders in theCompany and ONLY ONE of them is alloted shares.

Please guide as to under which section the aforesaid allotment will becovered and what will be the process of the same.?

Will it fall under RIGHT ISSUE or PREFERENTIAL ALLOTMENT?

Please guide. Its urgent.

regrads,

Mayuri LAl