Dear All,
If a pvt company wants to do pvt placement as the provision advices abt number of persons i.e 50-200 what if a CCD is issued to one person do the co have to comply sec 42.
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Private placement
Replies (5)
yes.... it has to comply with section 42 .. even It is offered to one person
Thanks yes
After analysis we came to conclusion that we have to comply with section 42,section 62,Rule 13 of companies(Share capital and debenture)rules 2014 & Rule 14 of companies(Prospectus & Allotment of securities )Rules,2014.
Yes right... rule 13 62(1)(c) + rule 14 section 42
Is there a limitation in the act that we can do only one or two private placement in a year?
If we want to do multiple private placement is it allowed
You cannot go for fresh private placement unless previous offer is completed or application money is refunded .. and maximum 200 allottees in a FY...... there is no limit on number of private placements however there is limit on Max allottees in a FY
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