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Section 179 stipulates that issue of securities needs to be done only at a Board. Would it mean that allotment of securities should also be done only at Board meeting and not through circulation. The power to issue securities under Section 179(3)(c) also cannot be delegated. How will listed companies which have granted ESOP be able to convene board meeting only for the purpose of allotment of shares. Can allotment of securities be done through circulation.

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Posted By: Arun kumar 10 year(s) ago

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Expert Ankit Singhi

Yes, allotment can be delegated to committee. Please issue and allotment are different thing though generally in private company , it issues and allots at the same time.

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