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Share allotment

Gaurav (ACS) (90 Points)

03 August 2014

4 years back a private co. Made a wrong share allotment,now the co. Wants to rectify,shares were to be alloted to X but it got wrongly alloted to Y,what are the options to rectify that mistake??pls reply asap..

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3 Replies

Jakey Rohira (student) (95 Points)
Replied 03 August 2014

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P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 03 August 2014

Transfer the shares from Y to X. Rectification is not possible.

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Gaurav (ACS) (90 Points)
Replied 03 August 2014

If we transfer,then we will admit that previous allotment was correct,then where is d cheque that company should have received from Y(wrongly alloted person) 4 years back,as share application money.