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One company has pass special resolution u/s. 42 read with 62 with relevant rules under provisions of Co. Act, 2013 for offer, issue of and allotment of Shares of Rs. 5 Crores to 120 persons in one or more tranches and as per the provisions of act and rules the validity of resolution is 12 months from the date of passing of resolution. The Board of Directors have approved Letter of offer in Form PAS4 and send the same first to 42 persons out of 120 persons ? We want following clarifications : 01. What is validity of Private Placement offer Letter in Form PAS4. ? 30 days or 12 months. 02. The company send offer letter to first 42 persons and made allotment and then we want to send offer letter to another 45 person out of 120 person, should the company need to prepare and approved offer letter in Form PAS -4 again and again until the completion of allotment for the total shares for which special resolution passed ? 03. Whether company need to maintain record in Form PAS 5 again and again when the company send Offer to total 120 persons until completion of allotment of total shares under special resolution passed ?

Private placement

Posted By: Vasant patel 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

Board can authorize any director for overseeing the process of private placement in which case approval will not be required each time but where there is any change in the offer letter , approval of board is required. Records to be maintained for each offer

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Pramod Prabhudesai
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