Share Capital - Further Issue ‑ Whether one year period should be counted from the date on which shares are allotted for first time - Companies Law - Letter : No. 8/81/58‑PR,

Letter : No. 8/81/58 ‑ PR, dated 17 ‑ 10 ‑ 1958 SECTIONS 81 , 88 94 Further issue of capital. Subject:- Share Capital - Further Issue ‑ Whether one year period should be counted from the date on which shares are allotted for first time Query : Sub‑section (1) refers to after the expiry of one year from the allotment of shares in the company . Sometimes, in respect of an issue of shares, shares are allotted on different dates without closing the subscription list. Can the date of the first allotment be taken as the one on which shares, being part of the issue, are allotted for the first time ? Answer : The one year specified in the section is to be counted from the date on which the company has allotted any share for the first time.