Scrutinize applications for shares or debentures and place them before the board of directors or a committee of the board formed for the purpose.
In the absence of any application for shares, there should be some written agreement like vendors agreement, collaborators agreement etc., in writing, agreeing to take up the shares.
Send the intimation to the allotters by way of allotment shares.
Some letters should be exactly stamped as per the Indian Stamp Act 1899.
The stock exchange have your company shares, then you have to follow below conditions :
(a) In the case of a bonus or right issue provide the letters of allotment.
(b) They should be provided together and regret the issue of letters.
(c) The letters of right is also should provided together.
(d) They should be successfully printed, numbered on a best quality paper.
(e) They should include a provision for splitting and the form of renunciation should be attached to the allotment shares.
(f) They should tell, how the next cost of dividend will be evaluated.
(g) If your company is a listed company, they are provided in market units of trading.
Register the allotment of return in Form No. PAS-3 with the fee as mentioned in the (companies registration offices and fees) rules, 2014.
If the securities are provided for consideration other than cash, remember to attach to the form no. PAS-3. It is filed in an electronic mode and register with the following as attachments:
(1) List of allottees.
(2) The allocation of shares for notice otherwise than in cash, affix a copy of the contract.
(3) Copy of the board or members resolution approving the allotment of shares.
(4) In case of issue of bonus shares, fix a copy of resolution shows the allotment of bonus shares.
If the size of the said form consider their attachment is a bigger size, then register the attachment of list of allottees through addendum.
If the size of the file is bigger size then submit the file in a compact disk. The return of allotment presents the names of all joint holders.
In case of Public Limited Company :
Where a prospectus is published, the provisions of section 39 (1) of the 2013 act regarding minimum contribution should be compiled with. The unpaid amount on application on every security shall not be less than 5% as per section 39 (2). A private limited company which is a subsidiary of a public company is not handled as a public limited company.
In case of a public limited company listing their shares and debentures with a recognized stock exchange.
For assigning shares to non-resident Indians (NRI) on non-repatriation basis, special permission of RBI is nor required. But your company should file a declaration with RBI.
Corpstore Business Solution is one of the major company registration consultants to register all business entities in Coimbatore, Salem, Madurai and Chennai.