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Rights issue

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(Querist)
28 November 2017 Dear Experts,

In Case of Rights Issue. After receiving the rejection of Offer from the existing shareholders, Do we need to conduct a Board meeting for disposing off the shares to others. and subsequently another Board meeting for Allotment of Shares. Please let me know the exact procedure for the same.
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c.bakshi

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c.bakshi (Expert)
07 December 2017 yes, the board reserve the right to dispose off the shares in any manner which are beneficial and in the interest of the company. However, the same has already been disclosed in the offer document
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