Renunciation of shares in right issue

This query is : Resolved

Akshita Goyal (Querist)
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20 November 2014
Can an Existing Shareholder Renounce his shares to any other person/Non Member or only to a Existing Shareholder under new Companies Act, 2013?

Can a person partially accept and partially renounce the shares offered in Right issue by a pvt. Company?

Please guide on the above queries..

Thanks.
Akshita

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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25 November 2014 1. Unless the articles of the company otherwise provide, the offer aforesaid shall be deemed to include a right exercisable by the person concerned to renounce the shares offered to him or any of them in favour of any other person; and the letter of offer shall contain a statement of this right;

2. Yes provided AOA & Letter of offer shall contain a statement of this.

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