Entrepreneur | Corporate Law Advisor | L
218 Points
Joined September 2015
@ Ms. Dhara r u issuing shares exclusively under Section 42 or under Section 62(1)(c) for which u have to comply with Rules of Section 42 also? If itz under Section 62(1)(C) then the purpose can be " Issue further shares to persons (whether or not including existing shareholders or employees)" and under Section 42 then purpose can be " Resolutions passed ¡n pursuance of exercise of powers of Board of Directors"
Also, if u are issuing shares to investor u may also follow Section 62(1)(a)(ii) route. The filing burden is comparitively less. We issued the shares under this section recently.