Minorities

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Meenakshi (Querist)
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20 March 2009 Please tell me sections regarding how can we increase capital so that some shareholders (presentaly they r having 18% of paid up capital) become minorities. Can we have to give notice of Board meeting to (In which we r increasing share capital)them.

Thanks in advance.

Ankur Garg

Ankur Garg (Expert)
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13 May 2009 Hi

If your company is a pvt. Company then in that case by issuing further shares via allotment you can reduce the stake of shareholders holding 18% paid up capital.

ALLOTMNET OF SHARE

For allotment of equity share you have to convene a board meeting by serving BM notice to the directors only. In that board meeting pass a resolution for allotment of equity share.

After passing board resolution for allotment of equity share file form-2 to registrar of companies under section-75 with in 30 days of Board meeting.

Regards

Ankur Garg

Ankur Garg (Expert)
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13 May 2009 If you need resolution for allotment of equity share then send me a test mail at ankur_gargcs@rediffmail.com. I will send you the same.

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Meenakshi

Meenakshi (Querist)
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14 May 2009 Thanks a lot Ankur, I have sent a mail to ankur_gargcs@rediffmail.com for draft resolution.

Thanks in advance.