Beruflich Dokumente
Kultur Dokumente
As per provision under Companies Act, 2013, Chapter III, Part II of the Act, 2013 deals
exclusively with private placements. Section 42 of the Act, 2013 defines 'private
placement' which can be said in consonance with the interpretation of the Supreme
Court as “any offer of securities or invitation to subscribe securities to a select group of
persons by a company (other than by way of public offer) through issue of a private
placement offer letter and which satisfies the conditions specified in this section
including the condition that he offer or invitation is made to not more than 200 or such
higher number of persons as may be prescribed (excluding QIB's and employees
offered securities under ESOP) in a financial year".
The private placement was offered to such persons whose names are recorded prior to
the invitation to subscribe.
The Company has maintained the record of offer letters in PAS – 5.
Amount against an offer to be received only by cheque/demand draft / other banking
channels but not by cash – only from the bank account of the subscriber.
The company has filed offer letter with ROC along with the record of offer letters in the
form PAS 6 within 30 days circulation of an offer letter.
Company to maintain a record of the bank account from which payments received.
In case of joint holders, payment was received from the first applicant only.
The allotment was completed within 60 days from the date of receipt of application form.
If not application money repaid within 15 days of completion of 60 days. If not repaid, the
application money along with interest at 12% per annum from the expiry of 60th day was
paid.
Board resolution to specifically contain authority for the signing of share certificates by 2
directors and CS / one authorized person. One of the two directors should be the director
other than MD / WTD.
Share application money to be kept in a separate bank account and was utilized the only
for