board resolution for issue of equity shares
This query is : Resolved
28 April 2010
Hi,
I have a private limited company and have increased my authorised capital recently. Now I want to issue equity shares. Can anyone tell me is it compulsory to pass a resolution and if yes then whether special or ordinary.Please show me the format of resolution being passed. I also want to know detailed procedure for the same. Seeking reply urgent.
I have a private limited company and have increased my authorised capital recently. Now I want to issue equity shares. Can anyone tell me is it compulsory to pass a resolution and if yes then whether special or ordinary.Please show me the format of resolution being passed. I also want to know detailed procedure for the same. Seeking reply urgent.
28 April 2010
There is no specific provision in the Companies Act, with regard to further issue of shares in the case of a private limited company. So further issue is depends upon the AOA of the Company.
Board Resolution is sufficient for further issue of shares
Format of Resolution
“RESOLVED THAT subject to the provisions if any, of the Companies Act, 1956 and the Articles of Association of the Company,....... Equity Shares of Rs..../- each fully paid up be allotted to the following applicants
.......... ....
.......... ....
RESOLVED FURTHER THAT Share Certificates be issued to the Allottees under the Common Seal of the Company and signature of Directors".
Board Resolution is sufficient for further issue of shares
Format of Resolution
“RESOLVED THAT subject to the provisions if any, of the Companies Act, 1956 and the Articles of Association of the Company,....... Equity Shares of Rs..../- each fully paid up be allotted to the following applicants
.......... ....
.......... ....
RESOLVED FURTHER THAT Share Certificates be issued to the Allottees under the Common Seal of the Company and signature of Directors".
28 April 2010
Yes a simple board resolution for alltoment of shares needs to be passed as shown above.
Also you can quote in the end
Resolved further that form no. 2 be filed with the ROC and Mr. XYZ, director of the company be and is hereby authorised to sign the form
Also you can quote in the end
Resolved further that form no. 2 be filed with the ROC and Mr. XYZ, director of the company be and is hereby authorised to sign the form
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