THERE IS NO RESTRICTIONS ON THE MINIMUM FACE VALUE OF A SHARE OF A PRIVATE LIMITED COMPANY UNDER THE PROVISIONS OF COMPANIES ACT,1956. PLEASE CLARIFY IF THE RESTRICTIONS CONTAINED IN PARA 3.7 OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (DISCLOSURE AND INVESTOR PROTECTION) GUIDELINES, 2000 WILL BE APPLICABLE FOR A SMALL PRIVATE LIMITED COMPANY DESPITE IT NOT BEING A PUBLIC LIMITED COMPANY (LISTED OR UNLISTED) ?
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Minimum face value of a share of a private limited company
Replies (1)
Hi Divya !
As per Section 13(4) Companies Act.
You are free to Decide the Domination of Company.
As Per 3.7 Para SEBI(Rules),2000:
The First line you read :
In case of initial public offer by an unlisted company
As it is saying its about the Public Offer and Private Ltd Company is restracted in Section 3
So Para 3.7 of SEBI (rULES 2000, WILL NOT BE APPLICABLE ON YOUR GIVEN SITUATION
THANKS FOR SHARING QUERY DIVYA
Udit M. Mathur
Suresh Anchaliya & Co.
Panchratna,Opera House
Mumbai,04
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