Issue of shares at a different face value

[annapurnasm malagund]

Dear Friends,

can a company allot same class of shares at a different face value?

What is compliance's company has to follow?

Do we need to alter Moa in this case?

For ex: Company has 5,00,000 Authorised Capital 

It want to allot the shares in a two different face value.

It want to segregate 2,50,000 shares at 10 rupee face value.

another part of 2,50,000 shares at 100 rupee face value.

Is it valid under companies act?

[Sandeep Kulkarni]

No U cannot.

Keeping the same face value u can vary the voting rights attached to the share.
but u cannot issue EQUITY shares of diff FV.

This shares of Difft FV cann be issued w.regard to Preff shares. Debentures, Bonds.

Thanks & Regards

Sandeep Kulkarni

Asst to PCS,

Corporate & Legal Advisor to President, MD

Association of National Exchanges Members of India

ap.sec...@anmi.in

www.anmi.in

Hyderabad
+91-9491711381

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[Dhruv]

Sir, 

Thanks for the reply, just stumbled across it 

Wanted to know from which section does this flow ? As in - which section prescribes that shares of different FV cannot be issued ? 

Dhruv