Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

issue of further share

Pawan Singhal (chartered accountant) (655 Points)

10 December 2009

We have issued further share after submission of allotement return to roc. Issue of share is in the limit of authorised capital of the co.

Now whether we have to file another allotement return to roc and if yes what is the time limit for filing return of allotement.

Reply
Follow
Share

10 Replies

Puja MOHAN (company secretary) (72 Points)
Replied 10 December 2009

Form 2 is required to be filed after every allotment of shares.

Upgrade to CAclubindia Pro. Subscribe Now!

Prabeer (B. COM (H) CA & CS Final) (5484 Points)
Replied 10 December 2009


"	Form 2 is required to be filed after every allotment of shares.	"

Amol Gopal Kabra (CA,CS,DISA) (Practicing CA) (8539 Points)
Replied 10 December 2009

Form 2 is required to be filed within 30 days of allotment of shares.

CourseCart.in (Mentor at SHAYVIDZ Academy) (3756 Points)
Replied 10 December 2009

agreed wid all...

CS Snehal (Compliance Manager) (346 Points)
Replied 11 December 2009

What do you mean by Allotment Return to ROC.

Form 2 is return of allotment. It has to be filed with the MCA within 30 days from the date of allotment.

Upgrade to CAclubindia Pro. Subscribe Now!

Amol Gopal Kabra (CA,CS,DISA) (Practicing CA) (8539 Points)
Replied 11 December 2009

Allotment Return means Return of Allotment i.e. Form 2 and it has not be be filed with MCA. The return is filed with RoC through MCA Portal. MCA is not an authority where we file any documents. Its the Ministry that controls the corporate laws and affairs.

Pawan Singhal (chartered accountant) (655 Points)
Replied 11 December 2009

After receipt of application money is there any time limit for issue of share to applicant.

please send me copy of board resolution for issue of share

CS Snehal (Compliance Manager) (346 Points)
Replied 11 December 2009

In the case of IPO the allotment has to be made within 15 days from the closure of the issue. whereas in other cases time limit is not specified. After 7 years the same shall be transfered to IEPF u/s 205 of the Companies Act.

The Share application money will be shown on the liability side of the balance sheet.

Board Resolution:

"Resolved That _____equity shares of Rs. ___each be and are hereby allotted to the persons as per list tabled before the Board and initialled by the Chairman for purposes of identification, and as shown against their respective names.”

“Resolved further Thatshare certificates in respect of the shares allotted as aforesaid be issued to the said persons under the common seal of the company and under the signatures of any two directors of the company and counter signature of the Company Secretary.”

“RESOLVED FURTHER THAT _____ Fully paid up Equity Shares of Rs. ___each of the Company be issued to the said allottees and the entries be made in the Register of Members of the Company.” “RESOLVED FURTHER THAT the Return of Allotment in Form No.2 in respect of ________Equity Shares of Rs.____allotted be filed with the Registrar of the Companies, as required under Section 75 of the Companies Act, 1956 and that Shri _________, Company Secretary be and is hereby authorised to do the needful.”

“RESOLVED FURTHER THAT Shri ____ and Shri ____, Directors of the Company be and are hereby authorised to sign the Share Certificates for and on behalf of the Board of Directors of the Company and the Common Seal of the Company be affixed in presence of above said two Directors and Shri AB, Company Secretary of the Company.”

Sachin (Article Assistant) (462 Points)
Replied 11 December 2009

Form 2 is required to be filed 30days from allotment of shares.

CA Abhiram Bharat. (Assistant Manager Taxation) (508 Points)
Replied 11 December 2009

i agree, u shud file form 2 within 30 days from the allotment of the share, notwithstanding ur return of allotment previously filed with roc through the MCA portal.. mr amol is absolutely rite..

regards

abhiram