Difference between sec 25 and sec28
Shubham Jha (127 Points)
17 March 2020
qhat ia offer for sale and what is the difference between sec 25 amd sec 28
2 Replies
CS Rashi Jain
(Practicing Company Secretary @ RASHI JAI)
(1295 Points)
Replied 18 March 2020
An offer for sale is a mechanism where promoters in a listed company sell their shares directly to the public in a transparent manner and reduce their holdings from publicly listed company.
Acc to section 25 document containing offer of securities for sale deemed to be prospectus and all the conditions which are applicable for prospectus will be same but Acc to section 28 offer for sale of shares by certain members of the company in consultation with the BOD. the members will reimburse the company all expenses incurred by it and the provision in section 25 is about the document for ofs will be supporting in this section as an additional provision .
Acc to section 25 document containing offer of securities for sale deemed to be prospectus and all the conditions which are applicable for prospectus will be same but Acc to section 28 offer for sale of shares by certain members of the company in consultation with the BOD. the members will reimburse the company all expenses incurred by it and the provision in section 25 is about the document for ofs will be supporting in this section as an additional provision .
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