An Unlisted Public Ltd Co(XYZ) Acquired a Proprietorship Concern(ABC). The Company wants to issue shares other than cash. The Proprietor of (ABC) is also a shareholder in (XYZ). Wether company can allot shares otherwise than Right???
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Issue of shares by unlisted public ltd co other than right
Replies (2)
Hi Jitendra,
Allotment can be done on Private Placement Basis. Pls. see Section 23 of CA 2013 and Rule 13 of Companies (Share Capital and Debentures) Rules, 2014.
Regards
Hemant
Thanks sir
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