Allotment of shares against salary payable

[Vivek Hegde]

Dear Friends,

Please share your views in line with requirements of CA 2013 and the rules made there under:

1. Can a company allot shares to an employee against the salary payable and accrued? Will it be considered as allotment for consideration other than cash?

2. What is the process?

Warm Regards

CS Vivek Hegde, FCS, CMA

Vivek Hegde & Co.
Company Secretaries
No.86, 1st Floor, 2nd Main
Samvruddhi Enclave

Kumaraswamy Layout 2nd Stage 

Bangalore-560061
Mob : 09900898223

Off: 080 26663577

[ASHOK KUMAR Tripathy]

Dear Mr Vivek

Securities allotted for consideration otherwise than in cash includes consideration in respect to

Services (give nature of services).

Employee and employers relation is in nature of service and it is also a contract . But if at time of agreement  condition is mentioned in appointment letter and also common for every employees like Loan to employee as per U/s 185 then my views is that it may consider other than cash and to be consider for allotment .

 but we have to see  valuation report and IT point of views also.

With regards

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For A.K.Tripathy & CO.

CS Ashok Kumar Tripathy

FCS,LL.B,CMA(I)

Company Secretary in Practice

002,Alpine Arch,10 Langford Road

Bangalore-560027,Karnataka

(Near Shanti Nagar Hockey Stadium)

e-mail-csas...@gmail.com / csgur...@gmail.com

M.No- 99728 24635  ,95 35 15 1234