Can Any Body help me by explaning the meaning of " Allotment pursuant to the special resolution shall be completed within a period of fifteen days from the date of passing of such resolution." Under DIP Guildline.
If the AGM is held on 30th Sep, 2011 than, can we allot warrants on 15th oct, 2011 or not.
Is there any explanation in SEBI /BSE Guildline.
Thanks
puja
Yes as per my experience you should allot warrants upto 15th oct, 2011.
Within 15 days from the date of General Meeting subject to the ‘Prior In-principle’ approval’ , Hold BM and allot Pref. securities as per Reg.74 of the SEBI (Issue of Capital & Disclosure) Regulations 2009.
Also remember one thing allotment within 15 days of GM, implies that you have to collect Prior In-principle’ approval from STX within the same 15 days. Reason being allotment of securities is possible only after receiving Prior In-principle’ approval. To achieve quick Prior In-principle’ approval simply file application to STX for Prior In-principle’ approval before holding GM but without shareholders resolution. After GM also send shareholders resolution to STX.
Regards
thanks u soo much sir for the reply but sir u can suggest me any guildline where it is written or any days calculation in anywhere in the act etc......on the basis i represent before...........
CAclubindia
