Conditions of valid allotment.

Ans. Company needs to follow certain conditions while allotting the shares which can be classified as

(1) Statutory
(2) General.

Over and above the conditions stated by the Act, company should observe the following conditions.

(1) Proper Authority: Only & only Board of Directors or Allotment Committee formed for the purpose is authorized to carry it on.

(2) Allotment against application: Shares can be allotted only if there was an application for it.

(3) Allotment not in contravention of any law: Allotment be in purview of not only the companies Act but also other relevant act and should not be violating any law in any way like Contract Act, Sales of Goods Act, FEMA, etc.

(4) Reasonable time: Allotment should happen within given period of time or else the applicant can reject it.

(5) Communication: Allotment or otherwise be communicated to the applicant in writing.

(6) Absolute and unconditional: It must adhere to terms stated in prospectus and application and not be conditional by any ways.

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2019 Board Paper Solution

HSC ENGLISH SET A 2019 21st February, 2019

HSC ENGLISH SET B 2019 21st February, 2019

HSC ENGLISH SET C 2019 21st February, 2019

HSC ENGLISH SET D 2019 21st February, 2019

SECRETARIAL PRACTICE (S.P) 2019 25th February, 2019

HSC XII PHYSICS 2019 25th February, 2019

CHEMISTRY XII HSC SOLUTION 27th, February, 2019

OCM PAPER SOLUTION 2019 27th, February, 2019

HSC MATHS PAPER SOLUTION 2nd, March, 2019

SSC ENGLISH STD 10 5TH MARCH, 2019.

HSC XII ACCOUNTS 2019 6th March, 2019

HSC XII BIOLOGY 2019 6TH March, 2019

HSC XII ECONOMICS 9Th March 2019

SSC Maths I March 2019 Solution 10th Standard11th, March, 2019

SSC MATHS II MARCH 2019 SOLUTION 10TH STD.13th March, 2019

SSC SCIENCE I MARCH 2019 SOLUTION 10TH STD. 15th March, 2019.

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