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Resolution for allotment of partly paid up equity shares

Kanika Sukheeja (Company Secretary) (52 Points)

15 March 2012

Dear All,

Can anbody please provide me the resolution for issue and allotment of partly paid up equity shares..???

Please help considering it as urgent.

Thanks in advance.

Kanika Sukheeja

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2 Replies

Kaveri Agarwal (15 Points)
Replied 12 May 2018

do you have partly paid up shares resolution.. i need to do in rights issue.

help asap

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 19 May 2018

“RESOLVED THAT pursuant to the Rights Issue undertaken by the Company in terms of the Final Letter of Offer dated ................... which opened for subscripttion on .............. and closed for subscripttion on ............. and in accordance with applicable laws and relevant provisions including the Companies Act and SEBI (ICDR) Regulations, 2009, each as amended and subject to any other requirements consent be and is hereby accorded to the allotment of ................ Equity Shares of Rs. 10/- each, issued at a price of ` ............./- per share (including a premium of ` ........./- per share) (wherein applicants were required to pay ` ............ per equity share on Application out of which ` .............. of the application money being adjusted towards the face value of the equity share and ` .............. being adjusted towards the share premium account per equity share and remaining ` ................ will be payable on First and Final Call by the Company), bearing distinctive numbers from .................. to ................... (both inclusive), ranking pari passu with the existing Equity Shares and as per the Basis of Allotment finalised by the BSE Limited being the Designated Stock Exchange, a copy of which was placed before the meeting and that the names of the allottees be and are hereby entered in the Company’s Register of Members.”

RESOLVED FURTHER THAT, first and final call for the balance amount payable on equity shares so allotted shall be made by a resolution passed by the Board of Directors (“Board”, such term to be deemed to mean and include any duly constituted committee thereof, as the case may be) and written notice for payment of call monies be sent in advance to holders of partly paid-up equity shares as on the call record date to be fixed by the Board for the call, provided that any applicant who fails to pay call money on call on or before the day appointed for the payment of the same or any such extension thereof allowed by the Board of Directors hereby will stand to have equity shares in respect of which any call money remains outstanding forfeited in accordance with applicable law and the terms of the Company’s Articles of Association.

“RESOLVED FURTHER THAT Intimation Letters will be issued and that shareholders holding Equity Shares in the physical form and who have been allotted Equity Shares be and are hereby sent share certificates and, in respect of those Shareholders holding Equity Shares in dematerialised form and who have been allotted Equity Shares, their accounts with the respective depositories, National Securities Depository Limited and Central Depository Services (India) Limited, as applicable, be credited based upon such validation checks, if any, as may the Registrar to the Issue being Skyline Financial Services Private Limited consider necessary.”

“RESOLVED FURTHER THAT where new share certificates are issued to allottees, such certificates be issued as per the Companies (Share Capital and Debentures) Rules, 2014 under the signatures of Shri …………………….., Shri ………………….., Directors and be countersigned by Shri …………………., Company Secretary of the Company.”

“RESOLVED FURTHER THAT amount shall be refunded to all non allottees, except those applicants who have used the Application Supported by Blocked Amount (“ASBA”) process, through Refund Order or Demand Draft or through the Electronic Credit.”

“RESOLVED FURTHER THAT the Equity Shares allotted as above shall, subject to the Articles of Association and Memorandum of Association of the Company, rank pari passu with the existing Equity Shares of the Company and shall be entitled to dividend and all corporate benefits, if any, declared by the Company after allotment to the extent the amount paid-up per equity share.”

“RESOLVED FURTHER THAT Shri ……………………, Director and Shri ……………………, Company Secretary and Compliance Officer of the Company be and are hereby jointly and / or severally authorised make application to the BSE Limited for the listing and trading approval of said ……………. equity shares and to do all such acts, deeds and things as are or may be deemed necessary, expedient and desirable under the circumstances to ensure that the above Equity Shares allotted are dealt with on the BSE Limited including making applications to the Depositories and the Stock Exchanges, executing agreements, deeds, documents and writings with them as may be required.”

“RESOLVED FURTHER THAT Shri ……………., Director and Shri ……………………., Company Secretary and Compliance Officer of the Company be and are hereby severally authorised and directed to do all such acts, deeds and things and to submit and sign on behalf of the Company necessary forms, papers, documents, certificates, explanations etc. including filing of necessary forms and relevant information with the Ministry of Corporate Affairs/Registrar of Companies and intimation to other Statutory authorities and further to complete all the post issue formalities with respect to the said allotment for the effective implementation of the resolution.”