Issue of share certificates

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Meenakshi (Querist)
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16 March 2009 A pvt Ltd. Co has formed in 2006, In MOA 3 subscribers are there with 25:25;50% shareholding ratio. Practically share certificates are not issued till date,now another 2 persons dont want to isuue share certificate to that third person(who is having 50% shareholding).

Sec 270 shall not apply to a Pvt.Co.

Now Is it possible that issue 100% share certificate to only 2 persons.

Thanks in advance.

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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16 March 2009 NO, SINCE IN MOA 3 SUBSCRIBERS WERE HOLDING THE SHARES AMOUNTS TO DEEMED ALLOTMENT. HENCE EITHER SHARE CERTIFICATE IS TO BE ISSUED TO THIRD PERSON ALSO OR ELSE HIS SHARES SHALL BE TRANSFERED BETWEEN REMAINING TWO AND FORM NO.7B SHALL BE EXECUTED

Meenakshi

Meenakshi (Querist)
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20 March 2009 Thanks for ur reply.

What is for Form no 7B please explain me.

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Meenakshi

Meenakshi (Querist)
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20 March 2009 thanks for your reply, But pls explain me about form 7B.