Further allotment of shares by a Pvt Co.-Urgent

Dear Ankit,

Since Sectino 81 does not apply in case of Private Company, it can allot shares in the Board Meeting by Board resoluiton only and form 2 is to be filed within 30 days of the date of allotment.

But allotment can only be made upto within the Authorised Capital of the company. If the Authorised Capital is also to be increased. First of all Memorandum is required to be altered by way of Ordinary Resoluiton in the General Meeting.

Hi

For further allotment , the provisions of section 81 of the Companies Act, 1956 is not applicable. You can allot by Board resolution.

Regards

Thanks learned members.....

One more thing........As we know that there is no restriction on premium, whateva premium we may charge on issue of shares then, if we have issued shares at very high premium and after filling the e-Form 2, ROC asked about the Abnormal Premium that we have received then what reason could we quote except net worth of the Company?