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1.Is it mandatory to issue shares only to an existing shareholder in case of Rights Issue under CA 2013? Alternatively, can existing member renounce the offer in favour of a new person or a person who is not a shareholder of the company.

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Posted By: V. maslekar 8 year(s) ago

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PRAVIN SATARDEKAR

Yes the offeree can renounce the share to another person who is not an existing shareholder of the Company subject to provisions in the AOA and the offer letter shall contain a statement of this right.

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Vivek Vijay

Yes one can renounce the share to other person

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