Situation: Company A wants to file PAS-3 for allotment of Class A, Class B & Class C equity shares. Allotment date is same for all classes i.e 29/12/2015. Face value is Rs. 10/- each
Class A : 10000 shares Allottees: Mr. A (5000 shares), Mr. B (250 shares) & Mr. C (4750 Shares)
Class B: 10000 shares Allottees: Mr. A (5000 shares), Mr. B (1000 shares) & Mr. C (1000 Shares)
Class C: 10000 shares Allottees: Mr. A (1000 shares), Mr. B (4000 shares) & Mr. C (5000 Shares)
Question:
1. Whether for all the class single PAS-3 can be filed. Allotment is done on same day for all classes 2. if i file single PAS-3 for say class A shares, will that amount to violation of private placement rule which says that allotment can't be done for less than Rs. 20,000/- per person whereas in class A allotment to Mr. B will be less than Rs. 20,000 /- (Allotment to Mr. B= 250*10 =Rs. 2500) 3. whether single private placement offer letter can be issued for all three classes of shares.
Respected learned members waiting for your valuable comments.
1. Yes one PAS-3 can be file for more than one allotment. 2. Yes it is default of section 42. 3. No same PP offer can't be be given for more then one class.
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