Time limit for allotment of shares under rights issue

CS Arjun Rajagopal (B.com, ACS) (1056 Points)

29 June 2016  

Dear CCI Members,

I would like to know what is the time limit for allotment of shares in the case of rights issue u/s  62(1)(a). I haven't any seen aything about time limit for allotment in the said section or its rules. Does the time limit for allotment mentioned in the case of private placement 42(6) is also applicable to rights issue? 

I would be grateful if relevant section or rule is quoted.

Please reply.

Regards,

Arjun Rajagopal