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Section 42 and 62 of companies act,2013

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15 May 2014 At the time of initial subscription of shares (first allotment of shares at the time of incorporation of company) whether Section 62 is applicable?? Kindly also explain the applicability of the above two sections at the time of first issue (initial allotment) and also further allotment in case of a private company
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Vaiyapuri kannan

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Vaiyapuri kannan (Expert)
05 June 2014 section 42 is applicable if the company decides to go for private placement whereas section 62 is applicable if the company decides to issue further shares . So these two section may not be applicable for first issue
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