Validity of allotment of shares to majority shareholders of ...

NCLT rules against private company for bypassing formal notice and offer letter in share allotment to majority shareholders.

December 12, 2022

Case Laws Companies Law AT

Validity of allotment of shares to majority shareholders of private limited company - The stand of the Company is that since it is a family Company and the decisions are taken in an informal manner by the members and no formal notices were required to be issued in view of the closely held family company. - Be that as it may, between the equity and law, the law will prevail. In the present case, the NCLT and this Tribunal is firm opinion that the company has not followed the principles of natural justice by issuing notice for the EOGM and issue letter of offer to the existing shareholders of the Company for allotment of shares. - AT

View Source

← Previous Next →

Validity of allotment of shares to majority shareholders of ...

NCLT rules against private company for bypassing formal notice and offer letter in share allotment to majority shareholders.

December 12, 2022

Case Laws Companies Law AT

You may also like:

The Appellate Tribunal dismissed the Section 7 application filed by the Appellant, ruling that the share application money deposited by the Appellant with the Corporate...

Unexplained share capital - share premium and share application money - Ld.CIT(A) has noted as assessee has filed the confirmation letters, copies of ITRs, copies of...

Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 - Amendment in various rules.

Private Placement - Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014 - offer or invitation of any securities under this rule shall be made...

Redemption of preference shares - failure of the company to redeem or to pay dividend - The preference shareholders are not remediless and for redemption of preference...

Oppression and Mismanagement - Transfer of Shares - allotment of shares - Forum Shopping - It is clear that even as on 1998, there was no business conducted by the...

Initiation of CIRP - NCLT admitted the application - Financial Creditors - Share Application Money in the event of non-allotment of shares - Loan/Debt or not - Share...

Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2019

Companies (Prospectus and Allotment of Securities) Amendment Rules, 2019

Assessee company successfully proved genuineness of share capital and share premium received from various private limited companies. Creditworthiness and identity of...

MCA amended Rule 9B of Companies (Prospectus and Allotment of Securities) Rules, 2014 through notification dated Feb 12, 2025. The amendment extends compliance deadline...

This notification amends the Companies (Prospectus and Allotment of Securities) Rules, 2014, by inserting a proviso in sub-rule (2) of rule 9B. The proviso states that a...

Addition u/s 56(2)(vii)(c)(ii) - allotment of shares to assessee shareholder at a value lower - whether Tax to be paid by the shareholders or the company? - The shares...

Oppression and Mismanagement - illegal allotment of shares - the allegations that there has been an illegal allotment of Petitioner's shares, exclusion of Petitioner...

Addition u/s 56(2)(vii)(c) - related person - allotment of equity shares @ Rs. 10/- - book value of shares prior to allotment worked out at Rs. 552/- per share - the...

Quick Updates: