Civil Procedure Code (CPC)

Procedure of Re-issue of forfieted shares by a Private Ltd Co.

This query is : Resolved 
 

(Querist)
11 December 2008

Dear All,

A pvt ltd company is issued shares a premium. and forfeited these shares due to non-payment of call money in time.

Now the Company want to re-issue these shares . What is procedure of it ?

Please reply with supporting section asap.

Thanks & Regards

CA. B.K.BANSAL






Manish Singh (Expert)
22 December 2008

Dear Mr. Bansal,
the board of directors are having the power to reissue the forfeited shares subject to the articles of association of the compnay. so check the provisions of AoA.

There is no statutory provision for forfeiture of the shares under Companies Act, 1956. However, there is a provision in Chapter VIII of the SEBI(Disclosure and Investor Protection) Guidelines, 2000.

Hiralal Das (Expert)
07 April 2009

Thanks all of you the ld. member and the author.
I think your valuable opinion will assist everybody to solve their problem/matter in question properly.



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