Dear CCI Members,
Issue or allotment of shares, which one will happen first?
As per sec 179(3)(c), every company other than a pvt company shall file a copy of board resolution for issue of securites in form MGT-14 with ROC. Suppose XYZ Ltd proposes a rights issue to raise 50 Crore and board approved the same on 14.07.16. Does this mean XYZ Ltd shall file MGT-14 within 13.07.2016 (30 days from the date of baord meeting)? or within 30 days after the allotment date?
Please clarify urgently
Regards,
Arjun Rajagopal