Right issue- sec.62

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SREENATH P. (Querist)
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30 July 2015 Sir,

A Company Proposes to go for right issue, and given offer letter for 15 days. If all the Right holders including Renouncees subscribed by paying full amount/Rejected within shorter time (eg.3 days), Can the Company allot the right share immediately without waiting for 15 days.

Pratik Shah

Pratik Shah (Expert)
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30 July 2015 Yes..you can close the office and allot the shares before 15 days.
This exemption was given to private limited company vide Notification date 05th June, 2015. Please have a look at it.

SREENATH P.

SREENATH P. (Querist)
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30 July 2015 if it is a closely held public limited Company?

Pratik Shah

Pratik Shah (Expert)
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30 July 2015 then, you will have to wait for 15 days to complete.

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Right issue- sec.62

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