Souvik Kumar Ghosh (CA Final) (1368 Points)
02 May 2014Sec-42(7),inter-alia, provides that all offers covered under this section shall be made only to such persons whose names are recorded by the company prior to the invitation to subscribe" What does it imply?
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 02 May 2014
Refer Form PAS-5 - Rule 14 of Companies (Prospectus & Allotment of Securities) Rules 2014. It is fallout of Sahara case.
CAclubindia
