We two friends have registered a Pvt Ltd company with 1Lakh Capital in this January.
We both are the Directors as it was required and having 60% and 40% shares on it. We have deposited the amount at the business current account as proof of payment of our shares.
Now what we want to know:
1] Whether Share Certificates for both are really needed?
2] As our CA advised to have SH-1 for just future need (if any issue occurs between both the Directors), whether any third Signatory is mandatory? If mandatory then can a Lawyer be the witness signatory? The CA said the SH-1 should be signed by us both.
Can we Print and issue the SH-1 without any Secretary, as the MCA rule says "the secretary or some other person appointed by the Board for the purpose. The two directors or their attorneys and the secretary or other person shall sign the share certificate."?
In this case, if mandatory, whom we should authorize to sign the SH-1 as it says: "some other person appointed by the Board"?