Any one Help me out !
One Certificate from a CA, showing status of Share Capital of a Public Ltd. Company as on 12.03.2009, is signed erroneously stating Board meeting Date as 12.03.2009 instead of Special Resolution Date(EGM and not Board Meeting). Now Which date to be fixed as a valid date for holding EGM and which as Date of Allotment ??
Plz reply
Section 81(1)(a) talked about right issue i.e. further issue of share to existing shareholder. In this case no general meeting is required and only board resolution is required to allot share to the existing shareholder.
Further, paid up share capital considered as increased only after board resolution for allotment. Under section 81(1A) GM required. Date of allotment in case of section 81(1A) is always after shareholder's approval in GM.
Regards--Ankur
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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