02 March 2015
Sec 62(1)(a) talks about the rights issue but does not clarify about the consideration (whether in cash or kind), neither the rule mentions anything about the same, so
a)is it possible to issue right shares to directors of a pvt ltd company; for non-cash consideration to one director and in cash to another. here the directors are the only shareholders in company
b)if we can allot the rights issue as above will it be mandatory to get valuation report as in case of private placement.
CAclubindia
