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Query

momin saifi (CA Final Student) (169 Points)

09 January 2013

Hello Dear Freinds ....Happy New Year !!

Can a director in a pvt ltd company can purchase share in cash ?

is there any requirement of reporting in the hand of company if cash received from director as share capital?

please suggest ...

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4 Replies

shristi (executive) (96 Points)
Replied 09 January 2013

A director of pvvt company can acquire shares in cash. If the shares are new allottment then u have to file form 2 n if its transfer then just fill share transfer form no additional compliances required according to me.

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Tanveer Md Masood (Indispensable) (361 Points)
Replied 10 January 2013

Purchase of shares in cash is always opne since it is anorm but purchasing by cheque is often advisavle . Morever, we have this ESOP schem or employees stock option scheme wherein there is this practice of offering shres for a meagre or with out a price to the directors of the company.

Regards

Tanveer Mohammad Masood

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momin saifi (CA Final Student) (169 Points)
Replied 17 January 2013

Thnaks shristi and tanveer for your suggestions

One more thing , can we filed form 2 after six month of receiveing cash in hand and in bank.

and can we increased authorised share capital from 1 lac to direct 2 cr , there is any liability to disclosed , that why we increased such higher amount of capital with in one year of incorporation of a company.