verification of documents for issue of new share capital

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2010 A company is subsiday of foreign company and it acquired new share capital during the year. what are all the documents that has to be seen a auditor as per companies act.

Ankur Garg

Ankur Garg (Expert)
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13 September 2010 Form-2 is required to be filed with ROC for allotment of equity shares within 30 days of allotment in board meeting.

You should check:

1. Copy of form-2 along with copy of challan for payment of ROC fee

2. Copy of board resolution for allotment

3. if money is foreign money check the fema compliances.

4. Share application form (not a statutory requirement)

5. If allottee is a foreign party filing of form FC-GPR with RBI is required to filed with in 30 days of receipt of money in India.

Regards

Rasesh

Rasesh (Expert)
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13 September 2010 If the company issuing the shares is a public limited company, then also verify the compliance of Sec 81(1A) - i.e., members approval if required is obtained or not.

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