I have a query regarding right issue:- In a Pvt Company shares are allotted to a director,who is not holding shares in the Company.As per Sec. 62(1)(a) (ii) , shareholder to whom right is given has power to renounce the right in favour of any other person.Can i choose the provisions of right issue for this?
Menu
Right issue
Replies (2)
Dear Raghi,
Section 62(1)(11) deals with further issue of shares.In your case the Director is not an existing share holder and allotment to him wont come under the provisions of rights issue.Now coming to the second part a member can renounce the shares in favour of some one else,,if your share holders are pre arranged in favour of the said director then i think you can choose that option.
Other views and suggestions are invited
Yes Raghi, you can use the right to renunciation of the shareholders for the issue......
Recent Threads
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
- Exports against INR PO payable by Domestic Company
- Which websites are best for government exam prepar
- TDS on maturity payment of LIC of india
- ITR2 Gold ETF short and long term
Related Threads
CAclubindia
