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If Company Issue Shares in Consideration other than Cash to its existing shareholders under Section 62(1)(c) of compnaies Act, 2013 then Conpany also need to Comply with the Provision of Section 42 also? if yes, then How

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Posted By: Rajesh lakhanpal 9 year(s) ago

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Sunil Kumar Singla

if it is to the existing shareholders in the same proportion, Section 42 is not applicable. it comes under Right Issue

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Mayur Mehta

Section 62 refers to issue of shares to existing shareholders. On the other hand section 42 refers to private placement of shares to persons other than the existing shareholders. The offer under section 42 is to be limited to 200 persons. Therefore when the shares are issued under section 62 the question of complying with the section does not arise.

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