Company Law : Section 42 of the Companies Act, 2013 permits companies to raise funds from a select group of investors through private placement....
Company Law : A detailed roadmap explaining the legal framework, procedural steps, and compliance requirements for issuing CCPS through private ...
SEBI : SEBI held that post-allotment down-selling of privately placed debt securities to more than 200 investors changes their legal char...
Company Law : Understand the process, approvals, and documentation required for issuing securities via private placement under Section 42, inclu...
Company Law : A summary of Non-Convertible Debentures (NCDs) as a corporate financing tool, detailing the process for private placement, regulat...
Income Tax : A bill enabling the State Bank of India (SBI) to split its shares and issue bonus shares may be placed in the current winter sessi...
Income Tax : The Taxpayer incurred interest expenditure on the funds borrowed for investing in shares of a company, with a view to acquire cont...
Company Law : ROC Delhi penalised a company and its officers for three separate compliance failures linked to a private placement of shares. The...
Company Law : ROC Pune held that procedural lapses in a private placement issue related to one integrated transaction and did not warrant multip...
Company Law : ROC Pune held that procedural lapses in a private placement involving one investor formed part of a single integrated transaction ...
Company Law : ROC Pune penalized a company and its directors for delayed filing of e-Form PAS-3 relating to private placement allotment under Se...
Company Law : ROC Pune penalized a company and its directors for utilizing private placement funds before filing return of allotment under Secti...
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 Commencement -(i) These rules may be called Unlisted Public Companies (Preferential Allotment and Private Placement) Rules 2011 (ii) They shall come into force on the date of their publication on official Gazette.
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 incurred ‘wholly and exclusively’ for the purpose of earning dividend income.
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 bring down the government holding to 51 per cent, which is on a par with other nationalised banks.
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.
