abhishek kadam (Self employed) (151 Points)
17 August 2016Dear Professional colleagues,
One of my client which is a Public Company (unlisted) has decided to allot shares to open Public via prospectus and to receive the allotment in 2 calls respectively.
For alloment of shares of public company which is unlisted do we require SEBI approval for the same.??
Request you to please clarify my doubts with some Sections or Rules under Companies Act, 2013.
Regards,
Abhishek
Law Aspire
(CS)
(755 Points)
Replied 19 August 2016
No approval of SEBI is not required in this case.
abhishek kadam
(Self employed)
(151 Points)
Replied 19 August 2016
Dear Rachit,
but if the allotment is more than 50 Members we need to take SEBI approval is it..???
Regards,
Abhishek
Law Aspire
(CS)
(755 Points)
Replied 19 August 2016
Please quote the provisions , which requires the approval of SEBI
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