Issue of further share to a non resident shareholder

This query is : Resolved

Sudip Adhikary (Querist)
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23 February 2011 Please let me know that whether for issue of share to a non resident existing shareholder is required to be passed by Special Resolution or Ordinary resolution in an Extraordinary General Meeting for a private limited company?

Jayashree S Iyer

Jayashree S Iyer (Expert)
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25 February 2011 If the issue is within the Authroised Share Capital of the Company, Board Resolution is sufficient. No need for EGM resolution.

If the allotment crosses the Authorised Share Capital of the Company, then you will have to amend MOA / AOA to increase the Authorised Share Capital of the company for which passing of resolution in EGM is required.