In case of a newly incorporated private limited company, whether initial subscripttion of capital by subscribers of MOA be termed as "Issue of Shares on Private Placement" under section 42 of Companies Act. In such a case, whether return of allotment is required to be filed with the registrar.
No return of allotment is required in case of shares issued to subscribers to the memorandum of the Company.
Except shares issued pursuant to those undertaken by subscribers, PAS-3 ( Return of allotment) is required to be filed by the Company in every cases where Fresh shares are being allotted.
This is because PAS-3 is required only on allotment and allotment can be done by Board resolution only and in case of shares issued to subscribers on incorporation shares are automatically allotted on Company's incorporation.
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