rights issues

can company issue new rights share if previous one procedure of rights issues is pending.....
Replies (1)

Hello sh*tal
The query you asked can be answered in terms of Companies Act,2013 as well as Sebi icdr for right issue in case of listed cos.
1.As per sec-62(1)(a) of CA,2013 right issue offer once given is valid for a min period of 15-30days as specified in letter of offer.
Therefore as per CA,2013 new offer can be given only after expiry of offer period specified above or denial from offeree himself, whichever is earlier.
2.And as per Sebi icdr (Read Reg 56 of icdr)-
No further cap rasing via right issues etc between filing of draft offer doc and listing of specified securities except full disclosures regarding number or value given.
i've given this answer to the best of my knowledge and belief, hopefully it will satisfy your query
Thanks

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