Statutory Provisions Regarding Allotment of Shares under the Companies Act 2013

1. Allotment of Shares:
- Section 39 of the Companies Act 2013 deals with the allotment of shares by a company.
- Shares can be allotted by the board of directors or a committee authorized by the board.

2. Pre-Allotment Compliance:
- Before allotting shares, the company must ensure compliance with relevant provisions of the Companies Act, articles of association, and SEBI guidelines.
- Allotment must be made within 60 days from the date of receipt of application money.

3. Approval Required:
- Allotment of shares must be approved by the board of directors in a duly convened board meeting.
- In case of preferential allotment, approval from shareholders through special resolution is required.

4. Offer to Existing Shareholders:
- In case of rights issue, the company must offer the shares first to existing shareholders in proportion to their existing shareholding.

5. Return of Allotment:
- After allotment of shares, Form PAS-3 must be filed with the Registrar of Companies within 30 days.
- The return of allotment must contain details of the allotment, such as number and class of shares, names of allottees, etc.

6. Restrictions on Allotment:
- The Companies Act imposes restrictions on the allotment of shares, such as no allotment can be made at a discount except in certain cases.
- Compliance with Section 42 (Private Placement) is required for allotment of shares through private placement.