ALLOTMENT OF SHARES

This query is : Resolved

Sunil Bhat (Querist)
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15 April 2010 A pvt ltd company alloted shares on 31/03/2010 against share money received on 1/4/2009. One of the alottees has objected to late allotment and wants the company to allot shares wef 1/4/2009. Allotment dated 31/3/2010 is already approved by ROC.Can the allotment dated 31/3/2010 be reversed and allotment wef 1/4/2009 be effected by paying late fees. All the moneies received against the shares alloted was on 1/4/2009.

Rasesh

Rasesh (Expert)
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15 April 2010 In my view, no possible. Because, the allotment has been made by the board on 31/3/2010 and the ROC has also taken the same on record. Try to understand the objection of the shareholder. I believe, there is no reason other than indiscipline that should be an issue.