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Hi, A Pvt. Ltd co has authorized capital of 10 lacs and issued capital of 9.65 lacs. how by means of private placement it has made an offer of 0.20 lacs. does the co need to file MGT - 14 before allotment of shares (in PAS- 3) by way of private placement. After allotment can the Pvt ltd Co take loan of 10 lacs from the new member if the co has taken a Term loan from a nationalized bank which has said that margin of 40% is to be brought in by promoters before disbursement of full loan amount.

Private placement

Posted By: P banerjee 7 year(s) ago

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Expert    Ankit Singhi

MGT 14 need to be filed before allotment of shares. Further, company can take loan without shareholders approval as borrowed money is within the threshold limits prescribed under sec 180 of the Act.

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