Shares allotted pursuant to rights issue exempted u/s 186

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2015 Dear friends

Kindly clarify that why shares allotted pursuant to section 62(1)(a) of the Companies Act,2013 ("Right Issue") are exempted under Section 186 of the Companies Act,2013.

Would there be any compliance on the part of the Company which has been allotted shares pursuant to Section 62(1)(a) of Ca 2013?

Thanks

Pratik Shah

Pratik Shah (Expert)
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25 July 2015 Where did you read that Right Issue are exempted under Section 186?

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2015 Dear Pratik

Please read 186(11)(b)(iii) of the Companies Act 2013.

thanks

Pratik Shah

Pratik Shah (Expert)
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25 July 2015 Thanks for that. I really did not read that earlier.

It is difficult to understand their intention of putting this exemption in this.

And I dont think that there are any compliance required on the part of company if the shares are allotted under Right issue.

Querist : Anonymous

Querist : Anonymous (Querist)

27 July 2015 You are right Mr. Pratik. Nor any explanation has been given in Ramaiya or any other book.

Other views solicited.