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Pvt placement
unlike public issue.. there is no time period to complete PVT placement right???? if there is time period Company has to allot within 60 days from receipt of subscripttion money... do all subscribers need to pay at the same time???
Replies (2)
As per my view although the Sec 42 or its rules is silent about the time limit for completing private placemnt ,If you see the specimen of PAS-4 there, item no. 2(h) asks for the proposed time limit for which the offer letter shall be valid. Therefore u should mention the last date for receiving the invitations.
Regarding payment of application money, it is not necessary that all the subscribers should pay at one time. Thereafter, all the allotments shall be completed within 60 days from the date of receipt of money in the bank. Verification of bank statement is very important.
Kindly wait for the veiw of learned membes.
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