Private placement offer letter duration

All the application money even in tranches shall be received maximum within 60 days from date of receipt of first application money as the shares has to be allotted witthin 60 days of receipt of application money. if shares are not allotted within 60 days of application money then entire application money shall be refunded within 15 days. if not refunded within 15 days then intrest shall be charged from 61st day and it shall be treated as deposits.

And no further shares are allotted in private placement before any allotment is not completely made.

So full application money even in tranches shall be received within 60 days of first application money

Yeah but we can allot debentures in tranches provided the same is passed in EGM resolution..