Upload
faisal-iqbal
View
219
Download
0
Embed Size (px)
Citation preview
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
1/12
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
2/12
Capital refers to the amount invested in the
company so that it can carry on its activities. in a
company capital refers to "share capital".
The capital clause in Memorandum of Association
must state the amount of capital.
A company cannot issue share capital in excess of
the limit specified in the Capital clause withoutaltering the capital clause of the MA.
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
3/12
1. Nominal, Authorised or registered capital
Sum mentioned in the capital clause of Memorandum ofAssociation.
It is the maximum amount which the company raise byissuing the shares and on which the registration fee is paid.
2. Issued capital
That part of the authorised capital which has been offered for
subscription to members.3. Subscribed capital
That part of the issued capital at nominal or face value whichhas been subscribed or taken up by purchaser of shares in thecompany
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
4/12
4. Called-up capital
Total amount of called up capital on the shares
issued and subscribed by the shareholders on capital
account.
5. Paid-up capital
Total amount of called up share capital which is
actually paid to the company by the members.
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
5/12
1. Ordinary Shares
These carry to share in profits, If available and the
voting right.
2. Preference Shares
They carry the right to the fixed dividend on the
ordinary shares, but no voting right except when therights of the holders are effected.
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
6/12
A document issued under the common seal of the
company and states the ,
Name and address of the holder
The number of shares held by him Their distinctive numbers
The amount paid up thereon
A certificate under the common seal of the companyspecifying any shares held by any member shall be
prima facie evidence of the title of the member to the
shares therein specified.
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
7/12
Time for issue of share certificate
A company shall issue share certificates within 90days from the date of allotment.
Incase of transfer of shares, within 45 days from thedate of application
Delay case, the company and the officer responsibleliable to a fine not exceeding Rs. 100 for a day.
Duplicate Certificate (S
ection-75) Shall be issued within 45 days after inquiry that
original certificate has been lost, torned, defaced
Unable to issue it shall notify this fact within 30 days
from the date of application
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
8/12
Company limited by shares, if authorized by its articles, may
alter the conditions of its memorandum Increase its share capital
consolidate & divide all or any of its share capital intoshares of a larger amount than its existing shares.If the company has 100 shares of Rs.10 each ( aggregating to Rs. 1000/-) it mayconsolidate those shares into 10 shares of Rs100 each.
sub-divide its shares or any one of them, into shares ofsmaller amount than is fixed by the memorandum
cancel shares, which have not been taken up or agreed to betaken any person
All these powers must be exercised by the company in theAGM
The new share shall carry the same rights as are given toshares previously issued.
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
9/12
For reduction of capital, the following conditions are to
be fulfilled;
The authority to reduce the share capital must be
given by the articles.Where a company has passed a special resolution,
called A resolution for reducing share capital
(Section-97)
Company shall add, the words and reduced as the
last word of its name.
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
10/12
Usually provided by the articles
An application is required may be made either by
transferor or transferee
Duly stamped and executed by the transferor alongwith the share certificates.
A shareholder has an absolute right to transfer his
shares, unless the articles provided otherwise
Company has no inherent power to refuse a bonafide
transfer of shares
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
11/12
Can not refuse unless the transfer deed is invalid or
defected
In case of refusal, must notify this fact to theapplicant within 30 days from the date of application
Incase of Private Company, if any restriction on the
said matter, then the transfer shall be subject to those
restriction, directors can refuse the transfer on the
basis of those restrictions.
8/3/2019 Company b.com 1st semester Morning..(Mian BC 11004)
12/12
An application from lawful successor dully supported
by documents evidencing nomination.
Nominee of deceased member on receipt of proof ofdeath of the members with share certificate. Only
spouse, father, mother, sister, and son, or daughter
( real, step, or adopted can be nominate)
Successor-in-interest means one who follows another
in ownership or control of property.