Examine whether the following offers of ABC Limited comply with provisions of the Companies Act, 2013,...
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Examine whether the following offers of ABC Limited comply with provisions of the Companies Act, 2013, related to private placement or should these offers be treated as public: (i) ABC limited wants to raise funds for its upcoming project. It has issued private placement offer letters to 55 persons in their names to issue its equity shares. Out of these four are qualified institutional buyers. (ii) If in case (i) before allotment under this offer letter company issued another private placement offer to another 155 persons in their name for the issue of its debentures. (iii) Being a public company can it issue securities in private placement offers? Examine whether the following offers of ABC Limited comply with provisions of the Companies Act, 2013, related to private placement or should these offers be treated as public: (i) ABC limited wants to raise funds for its upcoming project. It has issued private placement offer letters to 55 persons in their names to issue its equity shares. Out of these four are qualified institutional buyers. (ii) If in case (i) before allotment under this offer letter company issued another private placement offer to another 155 persons in their name for the issue of its debentures. (iii) Being a public company can it issue securities in private placement offers?
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Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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