Dear all,
I have a query regarding further issue of shares of a Private Ltd. Company. They are as follows:
1. One of the shareholders is minor who have become a member by way of transfer of shares. Now is issuance of further shares to him by way of allotment a violation of Act? please suggest.
2. If the shares are issued to outsiders at a premium but partly paid up, say 70% of face value and premium paid on application and balance on allotment, then how shall the fact be shown on the share certificates issued? please suggest a format
3. While making the offer to outsiders, the period within which payment of allotment money whether can be mentioned in the offer letter or separate call to be made? Also if the period is mentioned in Letter of offer then whether calls required to be made?
Please refer any section or case law in support to your replies.
Regards,
Manisha
CAclubindia
