PROCEDURE FOR FORFEITURE OF SHARES

[Parteek Goel]

HELLO FRINEDS,

CAN ANYBODY TELL ME ABOUT THE PROCEDURE OF FORFEITURE OF SHARES?? I MEAN WHAT'S THE PROCEDURE AND THE DRAFT OF RESOLUTION ALSO...

THANKS IN ADVANCE...

[Sushma]

Hi,

Even i want the procedure for forfeiture of Shares. 

Resolution is as follows;

CONSIDERATION FOR FORFEITURE OF THE SHARES OF THE COMPANY

The Chairman of the Company informed the Board that the Company has given the letters to the Shareholders for the purpose of payment of call amount in respect of the partly paid shares held by them, and in case of failure to pay the amount along with interest as specified in the notice, the shares will be forfeited, as the Company has not received any amount from the Share holders, it is proposed to forfeit the shares, in this regard the Board has considered the same and passed the following resolution.

“RESOLVED THAT pursuant to provisions of the Companies Act 2013 and other applicable provisions if any, consent of the Board of Directors of the Company be and is hereby accorded for forfeiture of 60,000 partly paid up Equity Share of Rs. 10 each on which total Rs. _____________ at the rate of Rs._____/- per share remains unpaid on account of Share Capital & due to failure to pay the balance amount of allotment money due thereon as per list of partly paid up shares placed before the Board, duly initialed by the Chairman for the purpose of identification.

“RESOLVED FURTHER THAT the Share Transfer Agent M/s Venture Capital and corporate Investments Private Limited be and is hereby authorised to make entries in the register of members for giving effect to forfeiture of all the _______________ partly paid up Shares.”

“RESOLVED FURTHER THAT ______________, Managing Director and Mr. _______________________, Director of the Company be and are hereby severally and / or jointly authorised to inform to the Stock Exchanges, SEBI and all such authorities about the decision of the Board for forfeiture of partly paid up equity shares of the company and to do all such acts, deeds and things as may be necessary, expedient and desirable to give effect to the above resolution.”

Regards

Sushma.

[Parteek Goel]

Thanks for this resolution....

there is no procedure... actually there is no need to file any form to ROC and also there is no need to file any form for re-issuing the shares....

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Thanx
Parteek Goel
#9896969788

[Sushma]

Ok Sir, we have passed a Board Resolution and sent a letter to BSE about forfeiture. whether we will get any confirmation from BSE??

On Thursday, September 4, 2014 11:51:28 AM UTC+5:30, Parteek Goel wrote:

[CS Shainshad Aduvanni]

Dear Sirs,

Please find the Checklist for Forfeiture.

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CS Shainshad Aduvanni
Company Secretary
Coimbatore

09841414439

[Sushma]

Thank yuu sir.

Regards

Sushma

On Thursday, September 4, 2014 11:51:28 AM UTC+5:30, Parteek Goel wrote:

[niraj.lahoti]

Thank You Sir. 

Can you please provide the Excel Sheet with the annexures?