rights issue for unlisted company

For issuance of shares to existing shareholders only Ordinary Resolution is sufficient. SR is not required in listed companies as well..

SR will be required to issue shares other than existing shareholders under section 81(1A).

After approval from shareholders, Board will allot shares.

Pls tell whether BR is sufficient for that purpose.

Special Resolution is required to passed at the general meeting. correct me if am wrong.

Only Board Resolution is required if shares are issued to existing shareholders u/s 81(1A).

Hi...

I want to know if there is any restriciton regarding issue price of shares in a right issue? (In case of an unlisted public company).

Strictly speaking, there is no need to pass members resolution in case of a purely rights issue and only Board resolution will suffice.  However, if the issue involves fraction of shares which is to be ignored, approval of members will be necessary.  Further, the issue may also involve additional shares and right of renunciation in favour of third person.  Hence it may be advisable to pass ordinary resolution of members for approval of the issue.  As regards pricing, there is no restriction in case of unlisted companies.

Right issue of an unlisted company require Board Rsolution only.No need to pass Special or Ordinary Resolution.

Prepare list of allottes and attach it with Form 2 and upload d same at MCA portal.