08 June 2015
SECTION 62 (2) OF CA 2013 PROVIDES THAT (2) The notice referred to in sub-clause (i) of clause (a) of sub-section (1) shall be despatched through registered post or speed post or through electronic mode to all the existing shareholders at least three days before the opening of the issue.
But the exemptions given to pvt companies provides that Provided that notwithstanding anything contained in this sub-clause and sub section (2) of this section, in case ninety per cent. of the members of a private company have given their consent in writing or in electronic mode, the periods lesser than those specified in the said sub clause or sub-section shall apply.
whether it means that offer letter can be give through hand delivery?
09 June 2015
No. As per section 62(1)(i), the offer should be open for atleast 15 days. And as per 62(2), the offer letter should be dispatched atleast 3 days before opening of offer.
Now as per Amendment, it says 'period lesser than those specified'. Hence, as per amendment, the company can open offer for less than 15 days and the company can dispatched offer letter less than 3 days before opening of offer.
This amendment has nothing to do with mode of delivery of offer letter.
09 June 2015
But this amendment is not yet notified. Hence, you need to wait for this exemption till the notification is published in official gazatte.
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