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Private placement offer letter

Co Act 2013 317 views 1 replies

prakash

Company Secretary

1352 Points Joined January 2012

Dear All,

After circulation of private placement offer letter, what is maximum time for making application by applicant for allotment of shares?

I have gone through provision of section 42 of the Companies Act, 2013 and rule made under, i could not find any timeframe for making application by applicant after circulation of private placement offer letter, experts opinion is solicited.

Replies (1)

Vandana J Doshi

Practising Company Secretary

12562 Points Joined May 2011

Hi Prakash, no time frame is mentioned any where for private placement offer letter....so it solely depends on discretion of the company to maintain a suitable time frame....one can also follow the time frame mentioned in the act for rights issue....