S.NO.
|
PARTICULARS
|
MAX. TIME
|
TARGET TIME
|
1
|
Check Article
of Association of the Company for allotment of shares on private placement
basis
|
-
|
-
|
2.
|
Issue Notice
of Board Meeting to all the Directors of the Company (7 days before the
meeting)
|
1 day
|
1 day
|
3.
|
Call Board
Meeting -
To prepare
offer letter (PAS-4)
Make proposal
for Private Placement
Identify and
prepare list of person to whom option will be given
Fix date,
day, time and venue for calling EGM
|
7 days
|
1 day^
|
4.
|
Issue Notice
of EGM (21 Clear days before the date of meeting)
|
1 day
|
1 day
|
5.
|
Call EGM -
Pass Special
Resolution for Private Placement
Approve Draft
offer letter (PAS-4) by special Resolution
|
21 days
|
2 days
(shorter notice)*
|
6
|
File form
MGT-14 within 30 days with ROC
Attachment-
1. Notice of
EGM along with explanatory statements
2. Certified
True Copy of Special Resolution
|
1 day
|
1 day
|
7
|
Issue offer letter
to proposed investor in PAS-4 within 30 days as per the record name of person
|
30 days from
EGM**
|
1 day from
date of EGM**
|
8
|
Prepare
complete record of Private Placement in PAS-5 (list of allottees)
|
30 days from EGM**
|
1 day from
date of EGM**
|
9
|
File GNL-2
within 30 days of issue of offer letter with ROC
Attachment :
PAS-4 and PAS-5
|
30 days from
EGM**
|
1 day from
date of EGM**
|
10
|
Open Bank
Account
|
1 day
|
1 day
|
11
|
Make
allotment within 60 days from the date of receipt of money from the person to
whom right was given
|
-
|
-
|
12
|
Call Board
Meeting for allotment of Shares
|
8 days from
date of notice
|
1 day from
date of notice^
|
13
|
File PAS-3
with ROC within 30 days of allotment
Attachment:
1. List of Allottees
2. Board Resolution for allotment of
shares
|
30 days
|
1 day
|
14
|
Issue Share
Certificates in SH-1 within 2 Months from date of allotment
|
60days
|
5 days
|
TOTAL DAYS REQUIRED
|
100 days
|
17 days
|
*Consent of 95%
members are required to convene EGM at shorter notice
^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
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