S.NO.
|
PARTICULARS
|
MAX. TIME
|
TARGET TIME
|
1
|
Notice of
Board Meeting at least 7 days before the meeting specifying the time for
which the offer shall be remained open (minimum 15 days and maximum 30 days).
The notice to
include the right to renounce shares in favour of some other person.
|
1 day
|
1 day
|
2
|
Hold the
Board meeting and pass the resolution for approval of draft
letter of offer including the right of renunciation in the letter
|
7 days
|
1 day^
|
3
|
Dispatch
Letter of offer through registered post or speed post or through electronic
mode to all the existing shareholders. –
As per
Section 62(2) Letter of Offer must be sent at least 3 day before the opening
of issue
The notice can be sent even lesser than three days
before the issue opens, if 90% of the members agree in writing (consent can
be even by electronic mode).
|
4 days
|
2 days
|
4
|
The offer
shall remain open for subscription for minimum 15 days and maximum 30 days.
If 90% of the members agree in writing (consent can
given by electronic mode) then the offer can be kept open for lesser than 15 days.
|
15 days
|
2 days
|
5
|
Receive
acceptance/ renunciations/rejection of rights from members to whom the offer
has been sent & also from persons in whose favour right renounced.
|
2 days
|
2 days
|
6
|
Receive
Application Money
In Right Issue application of money through CASH is
Allowed
|
1 day
|
1 day
|
7
|
Issue Notice
of 2nd Board Meeting at least 7 days before the date of Board Meeting
|
1 day
|
1 day
|
8
|
Hold Board
Meeting and represent the list of Allottees and Pass the Board Resolution for
Allotment of Shares
|
7 days
|
1 day^
|
9
|
File PAS-3 within
30days from the date of Allotment.
Attachment :
CTC of Board
Resolution for Allotment of Shares
List of
Allottee
|
30 days
|
1 day
|
10
|
Issue Share
Certificates in SH-1 within 2 Months from date of allotment
|
60days
|
5 days
|
TOTAL
DAYS REQUIRED
|
127 days
|
17 days
|
^Board Meeting can be held at shorter notice with
presence of at least 1 independent director
Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided. I assume no responsibility for the consequences of use of such information. In no event I shall be liable for any direct, indirect, special or incidental damage resulting from, arising out of or in connection with the use of the information.
References:
Companies Act 2013
Contact:
CS Divyanshu Bansal
Email ID: divyanshubansal401@gmail.com
Ph: 9958381905