footloose (Student Others) (36 Points)
01 November 2012Is there any minimum time to increase new shares capital for newly open ltd firm?
is Stamp duty liable for increasing new shares ?
can increase partly paid up & fully paid shares together.
is there any permission required from existing share holder or is it compulsary to infrom existing shares holder for the same?
if any one know the answer please reply as its urgent
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 01 November 2012
Hi
Yes Achha murhat nikal ke do increase.. Juz kiddin..Any time you can increase.
Yes Stamp Duty to be paid on differentialy.
What is your company's staus? It depends upon the same.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 01 November 2012
You need to pass Ordinary Resolution for increase in authorised share capital and alteration in MOA of the company.
In case of Private company board will issue further shares by way of board resolution.
In case of public company you need to issue it as rights offier, otherwise Special Resolution need to be passed under section 81(1A) for preferential issue of shares.
Then the board will allot the shares within the authorised share capital by way of board resolution.
For increse in Authorised Share Capital you need to file form 5 within 30 days from the date of Ordinary Resolution and stamp duty on increased shares will apply.
For allotment of shares you need to file form 2 within 30 days from the date of Board Resolution along with the list of allottees.
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 01 November 2012
Agreed with expert!!
footloose
(Student Others)
(36 Points)
Replied 02 November 2012
Thank Ankur
our firm is public ltd if want to increase new share holders to raise the capital, is it compolsury to take permission from existing share holders?
One more question
earler we have alloted fully paid shares to existing share holders, but company has not recived the fund against those shares, & our ex-directors stolen those shares from office.
What is the solution to recover amount or forefiture the stolen shares ?
i hope many experts are here who will definately reply this query.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 02 November 2012
Ya you need to take permission by way of special resolution in case you wish to issue shares to a selected class of persons.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 02 November 2012
First of all they cannot say themselves shareholders of the company holding shares of any other person. If the amount has not been received, the shares may be forfeited by giving requried notices to the registered shareholders.
footloose
(Student Others)
(36 Points)
Replied 02 November 2012
if they have recived shares certificates being relative of ex-director.
what action should company take?
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 02 November 2012
But the shareholding shall be in the name of original shareholder, even the certificates must show the same. The register of members is showing the name of original shareholder, then what will be the benefit of stealing those certificates.
footloose
(Student Others)
(36 Points)
Replied 02 November 2012
Actually CA suggest about share capital can be shown in cash hence they could not given entry into bank meanwhile due to some irresponsblities director replaced. Since the director was on board it was thier gurantees. there are 2 share holder and one director has not paid the amount as yet.
as i told you ex-director took away the original share certificates with sign & seal since these were kept in office.
Please suggest the better and legal way to recover money or foriefiture shares.
CAclubindia
