private placement
Stepwise Procedure for Private Placement of Debentures
Company Law - As I have already discussed the provisions relating to Debentures in my earlier article series. In this article I will share the complete process of issue of debenture under Companies Act 2013. Work required to done before calling of Meeting: Identify the person to whom you will issue Debentures. Prepare the list of such persons t...
Read MorePrivate Placement under Section 42 of Companies Act,2013
Company Law - कम्पनीज एक्ट 2013 में सिक्योरिटीज इशू करने के उपर बहुत सारे बदलाव किये गए है, अब यदि एक प्राइवेट लिमिटेड कंपनी भी सिक्योरिटीज इशू कर...
Read MoreSummary of New Draft Rules for Preferential Allotment/ Private Placement in unlisted public companies
Company Law - Under Section 81 (1A) of the Companies Act, a public company may make a preferential allotment of shares only by passing a special resolution in a general meeting. On 24 May 2011 the Ministry of Corporate Affairs has issued a new set of draft rules [Unlisted Public Companies (Preferential Allotment) Rules, 2011] to replace the Unlisted P...
Read MoreInterest on funds borrowed for acquiring controlling stake in a company not allowable
Company Law - Interest paid on funds borrowed for acquiring controlling stake in a company will not be exempt from tax. The Income Tax Appellate Tribunal (ITAT) has ruled that such expenditure for investing in shares of a company cannot be exempted, since it has not been incurred ‘wholly and exclusively’ for the purpose of earning dividend income....
Read MoreGovt may table bill in parliament to allow SBI to split its shares and issue bonus shares
Company Law - A bill enabling the State Bank of India (SBI) to split its shares and issue bonus shares may be placed in the current winter session of Parliament. Besides, the amendments to the State Bank of India Act, 1955, envisage the preferential or private placement of shares. The SBI (Amendment) Bill also proposes to allow India’s No. 1 bank to ...
Read MoreInterest on funds borrowed for acquiring controlling interest not allowable expenditure under the Income Tax Act
Panatone Finvest Ltd. (ITAT Mumbai) - The Taxpayer incurred interest expenditure on the funds borrowed for investing in shares of a company, with a view to acquire controlling interest. The ITAT held that the interest expenditure incurred is not allowable under Section 57(iii)(Section) of the Indian Tax Law (ITL), since it is not incurr...
Read MoreComments invited on proposed rules for preferential allotment u/s 81 of Companies Act, 1956
F.No. 12/13/2011-Legal - (24/05/2011) - In exercise of the powers conferred by sub Section (1-A) of Section 81 of the Companies Act 1956 read with Section 642 of the said Act, the Central Government hereby makes the following rules in supersession of unlisted Public companies (Preferential Allotment) Rules, 2003. 1. Short Title and Commen...
Read MoreRecent Posts in "private placement"
Stepwise Procedure for Private Placement of Debentures
Private Placement under Section 42 of Companies Act,2013
Summary of New Draft Rules for Preferential Allotment/ Private Placement in unlisted public companies
Comments invited on proposed rules for preferential allotment u/s 81 of Companies Act, 1956
F.No. 12/13/2011-Legal - (24/05/2011) -
Interest on funds borrowed for acquiring controlling interest not allowable expenditure under the Income Tax Act
Panatone Finvest Ltd. (ITAT Mumbai) -
Govt may table bill in parliament to allow SBI to split its shares and issue bonus shares
Interest on funds borrowed for acquiring controlling stake in a company not allowable
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