Companies needs to complete lot of corporate law compliances at the time of fundraising activity which includes the increase of authorised share capital, preparation of PAS-4, PAS-5, filing of MGT-14, alteration of Articles of Association, allotment of shares etc.
It is therefore utmost important for the companies and its founders to understand the compliance around it and ensure the timely closure of the same.
Company can accept the investment in the following ways:
These securities can be issued either by:
Securities can be issued through private placement as per the provisions of Section 42 read with Companies (prospectus and allotment of securities) Rules, 2014, in this a private placement shall be made only to selected group of persons who have been identified by the Board of Directors.
As per provisions of section 62(a) of Companies Act, 2013, Whenever company want to increase its subscribed capital by issue of further shares than in that case such shares shall be offered to the existing equity shareholders. This is called as pre-emptive right.
In case subscription money is received from the person resident out of india, the fom FCGPR shall be required to be filed within 30 days of allotment.
As per provisions of section 62(c) of Companies Act, 2013, this referred to the issuance of securities to any person for cash or for a consideration other than cash. Provisions of section 42 are also applicable in this case.
Preferential Offer’ means an issue of shares or other securities, by a company to any select person or group of persons on a preferential basis and does not include shares or other securities offered through a public issue, rights issue, employee stock option scheme, employee stock purchase scheme or an issue of sweat equity shares or bonus shares or depository receipts issued in a country outside India or foreign securities;
Startupfino is working with Startups since last 10 years with an unparalleled experience of helping fast growing startups. Our Success can be witnessed through the numbers given below.
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