Private placement under companies act 2013

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Dear All, In case of Private Placement under Companies act, 2013 it is stated that no offer should be made to a person than those whose name is recorded by the Company prior to such Invitation or offer.By the word "recorded" does it mean that share has been previously issued to the respective person and his name is entered in the books of Share Holders?? Pls confirm. Thanks
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Recorded here means recorded in form PAS.5.

It is fallout of Sahara case.

 


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