Dear All,
Company details: Public Limited Company - Net Worth Rs 1.2 crores. Year of Incorporation: 2010
Objective: Developer of Real estate projects.
A client of mine wants to raise fund of around Rs 10 crores by way of issue of debentures. These unsecured loans will be subscribed by the relatives/group companies/employees by around more than 500 members. Loan will be utilised for the purpose of the development of the various projects.
The Company doesnot want to get listed (because of the time consumed and the cost involved in the listing process)
As we all are aware about the Sahara Case I want to know whats the best alternatve for the Company to raise the above fund and I also want to know whats are the legal aspects to be looked into?
Thanking you all in anticipation.
Regards,
Ruchika
CAclubindia
