share allotment ( producer company)

[S.K. Sharma]

Dear Learned member,

Please suggest that a producer company received cash from almost 550 individual in month of august and November 2014,but did not allot shares and no return is filed till today.

Does this amount is counted as deposit? and the company required to refund the amount with interest ? or can we file allotment return   today itself?

Thank you,

CS S.K.Sharma

[Premnarayan Tripathi]

Dear Friend,

 

Producer companies will still be governed by provisions of Part IX-A of the Companies Act, 1956.

 

Please find below extract from the Companies Act, 2013;

 

465. (1) The Companies Act, 1956 and the Registration of Companies (Sikkim) Act, 1961 (hereafter in this section referred to as the repealed enactments) shall stand repealed:

 

Provided that the provisions of Part IX A of the Companies Act, 1956 shall be applicable mutatis mutandis to a Producer Company in a manner as if the Companies Act, 1956 has not been repealed until a special Act is enacted for Producer Companies:

 

Thanks & regards,

CS. Premnarayan Tripathi

PRT & Associates,

Company Secretaries

201, Sarthik Square, Nr. GNFC Info Tower,

S G Highway, Ahmedabad - 380054

(M): +91 89800 26497

E-mail: premnar...@gmail.com

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[sunil kumar sharma]

Thanks Mr Tripathi ji,

It means no need to follow offer letter and other procedure? and shares can be issue in back date also in case of produce company?

Please suggest.

Thanks,

Regards

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[Premnarayan Tripathi]

Dear Sharmaji,

 

Yes, no need to follow offer letter and private placement procedure.

 

We should avoid back date workings………. J

 

Thanks & regards,

CS. Premnarayan Tripathi

PRT & Associates,

Company Secretaries

201, Sarthik Square, Nr. GNFC Info Tower,

S G Highway, Ahmedabad - 380054

(M): +91 89800 26497

E-mail: premnar...@gmail.com

 

[S.K. Sharma]

Dear Mr Tripathi ji Thanks for your prompt reply, in this case producer company received cash in bank (up to Rs.500/-) almost 550 individuals but didn't issue shares yet.

So the question is can we issue shares back dated or issue at present date?

can we file PAS 3 in back date i.e. dec 2014? otherwise the fund is reflected in balance sheet as unsecured loan ?

which is better for company's point of view ?

Thank you.

Regards

[Premnarayan Tripathi]

You can file PAS 3.

[S.K. Sharma]

Thank you very much  Mr . Tripathi Ji.