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Issue of shares

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(Querist)
16 January 2015 If there are new persons,(otherthan existing) then what kind of issue is correct. whether rights or private placement? As per the companies ACt 2013
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Kaustuv

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Kaustuv (Expert)
16 January 2015 Rights issue is predominantly for existing shareholders for raising "further capital" but it can be both for existing as well as new persons vide Sec. 62(1)(c) when a special resolution is passed and a valuation certificate is obtained.

If this is not the case, then obviously that would be considered a private placement subject to compliance with Sec. 42 and rules thereunder.
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