rights issue

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Querist : Anonymous

Querist : Anonymous (Querist)

23 November 2010 sirs,

is it mandatory to conduct general meeting by an unlisted company for rights issue?

Jayashree S Iyer

Jayashree S Iyer (Expert)
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07 December 2010 If the right issue is offered to the existing shareholders then there is no need to hold general meeting.(Sec. 81(1))

If there are offered to persons other than the existing shareholders then special resolution is required to be passed by the General meeting. (Sec. 81(1A))