Hi Guys i have one query: One Company namely "M/s A Ltd." has invested in our Company (Ltd. Company) around Rs. 5 Lacs (as a subscriber) and said investment was made by them in pursuant to their Board resolution dated 16.7.2009 (date of incorporation of our company) authorizing Mr. X,Mr.Y and Mr.Z to sign all the documents and representing the Company in all matters in connection with the aforesaid investment.But inadvertently the said equity shares were allotted by our company in the name of Mr. X, then CEO of M/s A instead of M/s A Ltd.and share certificate was also issued by the Company in his name. But now Mr. X has resigned from the Company and M/s X has requested to issue a fresh share certificate in the name of M/s X since the investment was purely made by them and they are the rightful owner of the shares.Further M/s X is willing to return the original share certificate that was inadvertently issued by our Company in the name of Mr. X.
Under this circumstances i seek your valued opinion that how the company proceed and resolve the matter.will it be lawful on the part of company to issue fresh share certificate in the name of M/s A Ltd. and suo moto make necessary changes in the Company's register of members.
CAclubindia
