Raja. (company secretary) (71 Points)
11 June 2014can a private limited company allot shares to other than its member just by passing an ordinary resolution for allotent of shares upto 200 members as per companies act 2013?
If no than what is the procedure for allotment of shares by a private limited company to other thean its members?
plz guide me on this query. its urgent
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 17 June 2014
It is definitely not possible now. You have to follow procedure for preferential allotment u/s 62 read with Sec.42 of the 2013 Act.
Raja.
(company secretary)
(71 Points)
Replied 18 June 2014
thanks Agrawal sir for your reply,
Is it compulsory to open a seperate Bank account for share application money for private placement or we can use a bank account of company?
Niraj
(prop)
(105 Points)
Replied 18 June 2014
It is required to keep the money in a separate Bank Account.
Some people suggesting that it can be kept as FD, but Law does not support the same.
So it should be kept in a Separate Bank Account.
Niraj
CAclubindia
