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प्रश्न
Write a note on the following :
Conditions of valid allotment.
उत्तर
The company needs to follow certain conditions while allotting the shares which can be classified as
(1) Statutory
(2) General.
Over and above the conditions stated by the Act, the company should observe the following conditions.
(1) Proper Authority: Only & only Board of Directors or Allotment Committee formed for the purpose is authorized to carry it on.
(2) Allotment against application: Shares can be allotted only if there was an application for it.
(3) Allotment not in contravention of any law: Allotment is in the purview of not only the companies Act but also other relevant activities and should not be violating any law in any way like Contract Act, Sales of Goods Act, FEMA, etc.
(4) Reasonable time: Allotment should happen within a given period of time or else the applicant can reject it.
(5) Communication: Allotment or otherwise be communicated to the applicant in writing.
(6) Absolute and unconditional: It must adhere to terms stated in prospectus and application and not be conditional in anyways.
APPEARS IN
संबंधित प्रश्न
Statutory conditions of allotment of shares.
Draft a ‘Letter of Allotment’ to debenture holders.
Draft a letter informing about allotment of shares.
Return of allotment is to be filed with the Registrar within _______ days of the date
Distinguish between the following:
Letter of allotment and Letter of regret.
Write a word or term or phrase which can substitute each of the following statements:
A letter informing the applicant that shares have not been allotted to him.
Share Allotment Letter
