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Issue of shares by a public company

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 September 2011 Can an unlisted Public company go for private placement to existing shareholders, directors & their relatives? what are the requirements that should be complied by the company as per companies act?
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sivadas chettoor

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sivadas chettoor (Expert)
10 September 2011 Yes...provided you do not violate section 67 of the companies Act wherein a limit of 50 persons are laid down. From the facts it appears that it is a domestic issue of the company and hence can issue upto 50 persons. This ceiling of 50 shall not apply to NBFC.

siva208@yahoo.com
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
12 September 2011 I agree with the expert
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