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Renouncement of shares

This query is : Resolved 
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(Querist)
11 June 2015 Hello,

A private company wants to issue shares to a non-member.

Is that possible if the company make a right issue and existing members renounce the right to the non-member ?

Further the allotment of share to the non-member( in above para) will be covered in right issue or the company has to go for private placement of share.?
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CS Adnan Shaikh

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CS Adnan Shaikh (Expert)
13 June 2015 This will be considered under Rights Issue and procedures for rights issue should only be followed.

Rights Issue means offering shares to existing shareholders and the Company has offered so. Subscribing and renouncing part is solely shareholders decision.
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