Dear All,
I have Alloted 2lacs shares for 10/- for which i have also made stamp duty payment of rs 2000rs. the shares are alloted to single shareholder.. Now i want to split the shares. Can i make a single certificate of 2,00,000 shares and do the franking on it and later can i pass Board resolution for spilting of shares and then split 2,00,000 shares as per my own requirement?? can anybody guide me on this and provide me with Board resolution for spilting of shares
"RESOLVED THAT the consent of the Board be and is hereby accorded to split the Share Certificates consisting of __________equity shares each as detailed below :-
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Sr. No. |
Name of the Shareholder |
Old Certificate |
New Certificate |
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Old Certificate No. / No. of Equity Shares |
Distinctive No. |
New Certificate No. / No. of Equity Shares |
Distinctive No. |
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RESOLVED FURTHER THAT the new Share Certificates be issued in the name of the Shareholders and that _________ and ___________, directors of the Company and ____________, Authorized Signatory of the Company be and are hereby authorized to sign the share certificates and that the common seal of the Company (if any) be affixed on the Share Certificates in their presence and that the corresponding old Share Certificate be cancelled and be kept in custody and necessary entries be made in the Register of Members of the Company.
For more resolution you can also visit: www.dokmart.com
Thank you so much for the resolution Mr Kamal Kumar.
but can i do the spilting of shares as asked above
Dear Dhara,
Please go through Rule 6 of Companies (share Capital and Debentures) Rules, 2014. Also, as you have alloted 2 lac shares to a shareholder, you should issue a certificate for 2 lac shares. Thereafter, the shareholder shall surrender the share certificate and request for splitting of share certificate as required. You may then take the matter to the Board and get the splitting approved. I have attached the Board Resolution for your reference.
CAclubindia
