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 Topic
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
- Tax Refund timeline
- Is Form 10E applicable for Notice Pay received in
- INCOME RECEIVED FROM COMPANY FOR ELECTRIC POLLS
- ITR Processing By CPC Now Super Fast - Much apprec
Related Topics
CAclubindia
