Allotment of Shares in Tranches for Private Placement

[falguni shah]

Dear Members,

Can any one help me in resolving my issue

The Company is doing private placement for which resolution states that the application money can be received in transches.

The offer cum application is on 10 shares but investors have only paid for an amount of 2 shares then in this case how to deal with Allotment within 60 days?

The investor will pay the amt of remaining 8 shares but after 1 month wht can be done in this case?

The Offer letter issued by the Company for certain number of shares the allotment should be of same number of shares?

[Vineet Maheshwari]

Hi,

You can file PAS-3 of the shares for which amount has been received & can file for others as and when the amount received for them.  In the explanatory statement you must have mentioned the time upto which offer is opened, till that time you can receive the application money from the investors  & can file different PAS-3. But till this offer is opened and you allot all shares you can not open another offer or first close this offer and then open the new one.

Thanks

Vineet Maheshwari

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[falguni shah]

Thank you Vineet,

In regards to same query Exp stamnt doesnot contain time bound, we hav recorded in EOGM resolution that the maximum no of shares may be issued in tranches.

As there is no time bound for offer period for sec 42 considering this as maximum 30 days offer period. In this case can we start offer for 2nd trench offer before filing allotment?

Also PAS-4 & PAS-5 will be separate if we keep multiple offer? if yes then date to be recorded in PAS-5 for BM & EOGM, the BM date will keep changing as and when offer letter is issued in PAS-4.

Can you please share your number to discuss over call if available.

Falguni Shah

Mob No 9766450422

[Vineet Maheshwari]

Hi..

My contact is 9958728134

Vineet

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