vaibhav (CA & CS) (577 Points)
26 July 2012Hi,
Can denomination of share certificates be changed ? Suppose company xyz has paid up capital of 1 lakh and issued 10 share certificates of denomination 10000.
Now the company has issued bonus of 20,00,000 ---- now there is need to issue share certificate for 20 lakhs.
Now my query is can i issue share certificate of denomination 50000 in place of 10000 ?
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 26 July 2012
It will require amendment of capital clause of Memorandum. You can pass resolution for sub-division of equity shares and then issue share certificates accordingly.
CAclubindia
