Article of association for Private Placement basis

[Vikram Mishra]

Dear Members,

Our Company (Unlisted Public Company) wants to raise its paid up capital by private placement basis. And the AOA as per Companies Act, 1956 contains the provision of SECTION 81(1A) of the CA, 1956 but it do not contain the provision for allotment of Shares on private placement basis.

So i want to know whether a completely new set of AOA has to be adopted as per Companies Act, 2013 OR Just inserting a new clause after clause 7 in the existing article for private placement basis will suffice the purpose?

Please advice.  

[nidhi goel]

 Its better to adopt the new set of articles as per co. act 2013.

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Thanks & Regards

Nidhi Goel

Company Secretary.