vasoya ankit (Practice) (137 Points)
30 November 2013our authorized capital is 3000000 shares of Rs 10 (Rs. 3,00,00,000) each and paid up 2485200 shares of 10 each
we have collected share application from selected shareholders Rs.52,30,000, is it possible to allot share to these selected shareholders at a premium in place of increase in authorized capital ? ( if allot SAM at par than Revised Share capital(2485200+523000) crosses Authorized capital(3000000) )
Anil Dhiman
(Company Secretary)
(114 Points)
Replied 30 November 2013
The most important factor while deciding to issue shares at a premium is that what does the valuation talks about it. Get aproper valuation done from a CA and check if you are permitted to do so. If valuation of your share is lesser than the face value, you will compulsorily be required to issue shares at par.
CAclubindia
