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- 1. Notice of BM : Issue the notice of Board Meeting at least 7 days before the meeting as per section 179(3).
- 2. Hold the board meeting : Hold the board meeting and pass the resolution for approval of draft letter of offer (LOO).
- 3. Sent offer letter : As per section 62(2) of Companies Act, 2013 LOO must be sent at least 3 days before the opening of issue.
- 4. Time period of Letter of Offer : As per section 61(1)(a) the offer period shall be remain open for subscription for minimum 15 days and maximum 30 days. Not later than 30 days.
- 5. MGT-14 : Need to file MGT-14 within 30 days from date of passing board resolution. (This clause only applicable to public limited company).
- 6. Receive application money : Received application money in cash or otherwise. It may be noted there is no such restriction that company has to receive only application money, company may issue offer letter with such condition that all the money will be received at the time of receiving the applications.
- 7. Notice of 2nd BM : Issue the notice of Board Meeting at least 7 days before the meeting as per section 179(3).
- 8. Hold the board Meeting : Hold the BM and represent the list of allottees and pass the resolution for allotment of shares.
- 9. PAS-3 : Need to file e-form PAS-3 to concerned ROC within 30 days from the date of allotment: Mandatory Attachments:
1. CTC of board resolution for allotment of shares.
2. List of allottees
- 10. Share Certificate : Issue share certificate within 2 months from the date of allotment.Authorize two directors with one authorizes representative to sign share certificate and issue share certificate in SH-1 format.
- 11. Share stamping : Get the share stamping from nearest SDM department within 30 days from date of issue.
