Hi Friends,
I have a small doubt in respect of Issue & Allotment of equity shares to subscribers...
The Board of a Private Company is empowered to Issue & Allot shares to its subscribers as Private Company, doesn't require approval from Shareholders. Whereas, for an unlisted Public company approval is required from its members., IF SO..is the following permitted ???
The Members of an Unlisted Public Company authorized the Board to Issue & Allot shares to its subscribers (as and when due for allotment) to the extent the Authorized Share Capital available / permits..
A resolution on the above lines is Valid or Invalid ??... If so, please let me know
Regards
Kiran