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Rights issue under companies act, 2013

Ashish Gupta (CS & Legal) (114 Points)

26 May 2014

Is a company contemplating Rights Issue in terms of Section 61(1)(a) of the Companies Act, 2013 (‘the Act’) requires to comply with the provisions pertaining to Private Placement under Section 42 of the Act?
What Form shall be filed by the Company with ROC after making Rights Issue? The revised e-form PAS-3 (corresponding to earlier e-form 2) does not specify Section 62 in it and contains reference of Section 39 and 42 only?

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2 Replies

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 26 May 2014

1. No. It is very clear.

2. It has been clarified by ROC Karnataka that same form PAS-3 may be used for rights issue also. MCA may make suitable changes in the form to cover rights issue also.

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Ashish Gupta (CS & Legal) (114 Points)
Replied 26 May 2014

Originally posted by : P C Agrawal
	1. No. It is very clear. 2. It has been clarified by ROC Karnataka that same form PAS-3 may be used for rights issue also. MCA may make suitable changes in the form to cover rights issue also.