Kindly Explain what is the defination of first allotment??? Will subscrption to the memorandum considered as first allotment?
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First allotment
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According to me subscripttion to memorandum is not a first allotment as formal allotment to subscribers is not required and filing of form-2 also not required.
Whenever a company allots equity shares through board meeting over and above the minimum paid up capital --- that is called first allotment and filing of form 2 with ROC becomes mandatory within 30 days of board meeting resolution for allotment.
Views of other learned members solicited.
Ya I am also agree with you, but Not confirmed.
Is it mentioned in any section of companies act, 1956..??
According to me there is no particular section for this. But you may consider this as an established practice. Have you ever seen filing of form-2 for shared subscribed through MOA?
Wait for other opinions.
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