https://www.taxtmi.com/circulars?id=10916 Further allotment of shares from the unsubscribed portion of issued capital does not increase the subscribed capital and is treated as the first allotment for those shares, so the statutory pre emptive rights governing new issues are not applicable to such remaining issued shares. The statutory provision is also inapplicable to the sale of forfeited shares because no new allotment is necessary for their sale. en-us Mon, 04 Oct 1976 00:00:00 +0530 Fri, 17 Jun 2011 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10916 Further allotment of shares from the unsubscribed portion of issued capital does not increase the subscribed capital and is treated as the first allotment for those shares, so the statutory pre emptive rights governing new issues are not applicable to such remaining issued shares. The statutory provision is also inapplicable to the sale of forfeited shares because no new allotment is necessary for their sale. Circulars Companies Law Mon, 04 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10916