Dear Friends
One Private Limited is in process to invite Share Application Money from One existing Shareholder and One outsider.
Do we need to go as per Section 42 of the Companies Act. Can anyone guide what to do.
Thanks
1 Replies
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 23 May 2014
Yes, there is no problem in following the private placement method of issuing shares....however, it will be very time consuming and lengthy.......alternately, you can also follow the rights issue method with right to renounce.....
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