Hi, we are the 2 directors (brothers) and our Pvt Ltd have external investors who owns 20% (we owns 70% and 10%), now we have issued share certificate to them (through a CA company) and I was wondering do we need to issue such share certificate to us too ? since we are the only two directors, I thought this is not necessary but still I just wanted to make sure what is the right way to do it
Regards
According to Section 113(1) of the Companies Act, 1956 every company is required to issue Certificates with in 3 months of allotment of shares, debentures or debenture stock.
So, you have to issue share certificate within 3 months of allotment of shares , and it does not matter whether a person is director of a company or not. Every person to whom shares are alloted, shares certificate must be issues to him.
Smriti, can I file the form on my own or do I really have to use the CA again assuming I have no knowedge about how to file it ? also how much normally cA charges ? how long is the procedure ?
Dear Prashant ji may I, know about which Form you are talking about. Are you asking for issue of Share Certificate ?
Smriti, I am not sure about the form, I thikn it is form 2 (allottment of stocks) ?
Form 2, is required to be filed within 30 days of allotment of shares, you can file the form on your own but it has to be digitally signed by Practicing CS, CA or CWA.
And if you have never done the filing , I would suggest you can get it done from any practicing CS or CA and regarding fees it depends on the professional and size of company n all..
Dear Prashant,
I fully agree with the view of Ms. Smriti Dhawan.
The company has to issue share certificate to each member of the Company. Furthermore, you can file any form by your own with your DSC, however, you are required to get the form (some specified forms) certified from the practicing professionals.
However, i would like to advice you to hire a professional or take consultancy of any professional who can advice you time to time about the compliaces so that you can timely comply with the requirements of the Companies Act by your own or with the help of professional.
Hi Ankur, how can I find a good cA in Bangalore ? is there any official directory or do i have to look into local yellow pages ?
Mr. Prashnt you can consult Auditor of your Company, he may may properly guide you regarding availabilty of good professional or he may also provide dese services to your company.
Prashant Ji- What is meaning of Good CA ? I think you are talking in terms of less fee. Since yrs a family managed company, i would rather suggest you to fix an annual fee with the consultant for filing and precertifying all forms like form 2, form 32 (for change in director), form 23 AC, ACA (Balance Sheet, PL), form 20B (Annual Return) etc and as told my friend in the last post, your auditor can be the best person for this and you can simply fix a fee for audit and filing taken together
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