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Time limit for allotment of shares - rights issue

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(Querist)
29 June 2016 Dear Experts,

I would like to know what is the time limit for allotment of shares in the case of rights issue u/s 62(1)(a). I haven't any seen aything about time limit for allotment in the said section or its rules. Does the time limit for allotment mentioned in the case of private placement 42(6) is also applicable to rights issue?

Please reply.
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CS Sanchita Bhardwaj

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CS Sanchita Bhardwaj (Expert)
29 June 2016 Mr Arjun,

You are going right. As section 62(1) does not specify any time limit, It would be better to comply with requirements of section 42(6) to avoid disputes.
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