Boorrowings and Private issue of shares--Pls help
This query is : Resolved
27 May 2011
Dear Experts,
Can I know the applicable sections and compliance required in th following case:
1. A Public limited company has made Private placement of equity shares (Existing Share Capital- Rs. 13,55,000. Additional issued- Rs. 1,00,97,000)
2. A public limited company has paid up Share capital of Rs. 1,14,52,000 and Secured loans of Rs. 1,15,07,906 (including Rs. Term loan from bank-Rs.1,13,99,885 and Bank OD –Rs. 1,08,021)
Can I know the applicable sections and compliance required in th following case:
1. A Public limited company has made Private placement of equity shares (Existing Share Capital- Rs. 13,55,000. Additional issued- Rs. 1,00,97,000)
2. A public limited company has paid up Share capital of Rs. 1,14,52,000 and Secured loans of Rs. 1,15,07,906 (including Rs. Term loan from bank-Rs.1,13,99,885 and Bank OD –Rs. 1,08,021)
Jayashree S Iyer
(Expert)
30 May 2011
1) Please go through the unlisted public companies (preferential allotment) Rules, 2003. It lists out all the requirements.
On allotment of shares, file form 2 within 30 days of allotment. Attach list of allottees.
2) The company has taken secured loans. So file form 8 with ROC for creation of security giving details of assets charged, amount of loan, interest rate,etc.
On allotment of shares, file form 2 within 30 days of allotment. Attach list of allottees.
2) The company has taken secured loans. So file form 8 with ROC for creation of security giving details of assets charged, amount of loan, interest rate,etc.
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