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Hi, Can a company delegate the power to allot shares & issue share certificate to any Board level committee under the Companies Act, 2013. Section 179 and Rule 5 (1) of The Companies (Share Capital and Debentures ) Rules, 2014 give power to the Board for issuance of securities. Rule 5 (3) (a) however provides for the authority to committee as well for giving authorisation for signing of share certificate. View of experts are invited on the above CS Neeraj Aggarwal 9871293629

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Posted By: Neeraj 9 year(s) ago

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Expert Ankit Singhi

Yes, company can delegate the power to allot shares and issue share certificate to the committee of the Board, if so authorized by the Board subject to such restrictions as may be imposed and section 179 not specifically provides delegatory power with regard to issue of securities.

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