i have an urgent query...
What is the procedure to allot shares to existing directors and what are the requirements for allotment ???
4 Replies
Mohanraj J
(1178 Points)
Replied 14 August 2019
recently we received FDI against additional Injection of Authorised Share Capital. In that we issued 98% to Holding Company n 2% to Parent Company as per board resolution with the help of Company Secretary
Yogesh Dave
(141 Points)
Replied 16 August 2019
it would be termed as preferencial allotment.
pass Board resolution and receive susbscripttion money into the bank account, offer letter in PAS-4 to existing director. then conduct EOGM for approval of issue of shares, after receiving the subscripttion money allot the shares within 60 days by passing board resolution for allotment of shares.
company can't issue shares at discount.
if company issue shares at premium then requre share valuation report from the category -1 merchant banker.
file MGT-14 (for EOGM SR)
file PAS-3 (return of Allotment of share)
file GNL-2 (PAS-4 & 5)
pass Board resolution and receive susbscripttion money into the bank account, offer letter in PAS-4 to existing director. then conduct EOGM for approval of issue of shares, after receiving the subscripttion money allot the shares within 60 days by passing board resolution for allotment of shares.
company can't issue shares at discount.
if company issue shares at premium then requre share valuation report from the category -1 merchant banker.
file MGT-14 (for EOGM SR)
file PAS-3 (return of Allotment of share)
file GNL-2 (PAS-4 & 5)
monika jaiswal
(2 Points)
Replied 20 August 2019
@ yogesh dave. as per my opinion GNL 2 is no longer required to file for PAS 4 and PAS 5.
Yogesh Dave
(141 Points)
Replied 21 August 2019
for private company there is no requirement but for compliance or for safe or side we can file GNL-2
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