split of shares

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CA VIKASH AGARWAL

CA VIKASH AGARWAL (Querist)
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16 November 2009 we are spliting shares in a private limited company

what is the legal requriment of split of shares

C.A.Amitabh Gupta

C.A.Amitabh Gupta (Expert)
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17 November 2009 Splitting of shares should be permitted within AOA, if not, AOA should be altered to include the provisions for splitting ( sub-division ) of shares. Then a Board Meet should be called after giving notice to all directors to decide abt the sub-division of shares and to fix up the time, place and agenda for General meeting. In the General Meeting a resolution to be passed for splitting of shares. Then the notice of sub-division of shares to be filed with ROC in Form 5 within 30 days. Also make necessary changes in share certificates, records, documents and registers of company.