Calls on preferential allotment

1) I am assuming that the resolution u/s 81(1A) was passed prior to allotment - which is the correct procedure.

2) If your co. is an unlisted public co. then the S/R should be acted on within 12 months of passing of s/r.

3) If your co. is an unlisted public co. then the allotment should be made within 60 days from the date of receipt of consideration

4) 2&3 are not applicable to private company.

5) For unlisted pulic co./pvt. co. entire consideration need not be paid upfront and money may be called in tranches.

6) Under FDI norms allotment should be made within 180 days from the date of recepit of consideration.

7) Notwithstanding 5 above  "partly paid up shares"  can be issued to non-resident only after obtaining FIPB approval.