“Can a private limited company issue fresh share capital (within its limit of Authorised Share Capital) without going for AGM or EOGM i.e. by approval of its BOD only ?
“Can a private limited company issue fresh share capital (within its limit of Authorised Share Capital) without going for AGM or EOGM i.e. by approval of its BOD only ?
Yes, if it is a rights issue u/s 23(2)(a) read with Sec.62(1)(a).
Hi,
If it is not a rights issue, than prior approval of shareholders in a GM is required for issue of share capital... then you have to comply with section 42 and 62 and relevant rules.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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