Increase in authorised & paid up capital

In case of private placement, company will have to open a separate Bank Account for receiving the share application money and will not able to utilize the same unless shares are allotted.

We will be doing an right issue and not private placement. So we don't need to open an escrow account right.  Please confirm. Thanks in advance.

yes,no need to open seprate bank a/c in case of right issue.

According to my understanding such condition is not given under section 62 of the act.