Akansha

As per Rule 13 of Companies (Share Capital and Debentures) Rules, 2014 say that “For the purposes of clause (c) of sub-section (1) of section 62, If authorized by a special resolution passed in a general meeting, shares may be issued by any company in any manner whatsoever including by way of a preferential offer, to any persons whether or not those persons include the persons referred to in clause (a) or clause (b) of sub-section (1) of section 62 and such issue on preferential basis should also comply with conditions laid down in section 42 of the Act. Thus, section 62 shall be read with section 42 of the Act.