Procedure for allotment of Shares to New Share Holders

[Rakesh]

Dear Members

Can anybody share the procedure I am suppose to follow for allotment of  Shares to New Share Holders.

Plz its very urgent...

[Rakesh]

Dear Members

Plz help me on the above query

[CS Harshal Gandhi]

Hello Rakesh,

With reference to your Query, If your Co. is a Pvt Co. then Co.has to offer share to its existing shareholders before allotting shares to outsiders. Further if the company wants to allot shares directly to persons other than its existing shareholders then it has to pass a Special Resolution and has to comply with the provisions of Private Placement (Section 42), according to which various compliances are to be some of them are listed below:-

·         Giving offer letter

·         Maintenance of records pertaining to offer letter

·          Filing of offer letter to ROC in case of issue through private placement in form PAS-4

·         Minimum investment to be made by a person is 20,000/-

·         Justification of price including premium, in the explanatory statement of Special Resolution.

·         Return of allotment to be filed in form PAS-3.

·         In case Company is not able to allot securities within 60 days of receipt of application money, it shall be repaid within 15 days from the date of completion of 60 days otherwise pay 12% interest per annum

Thank you.

On Tuesday, 29 July 2014 09:57:08 UTC+5:30, Rakesh wrote:

[Rakesh]

Thanks Harshal

Do we need to comply filing PAS-4 and PAS-5 with ROC

On Monday, July 28, 2014 2:01:43 PM UTC+5:30, Rakesh wrote:

[Harshal Gandhi]

Yes, you also have to complied for PAS-4 and PAS-5. but PAS-5 is kept by the co. so you have to just made a copy of that record and attached with PAS-4.

Thank you

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