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 : A summary of Non-Convertible Debentures (NCDs) as a corporate financing tool, detailing the process for private placement, regulat...
Company Law : Understand the rules of private placement under the Companies Act, 2013, including the 200-person limit, procedures, and penalties...
Company Law : Understand the distinctions and convergence of private placement (Section 42) and preferential allotment (Section 62(1)(c)) under ...
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 : The ROC held that filing the return of allotment beyond the 15-day statutory limit violates Section 42 and imposed penalties on th...
Company Law : The Adjudicating Officer held that omission of a mandatory valuation report in private placement filings violates Rule 12(7) and a...
Company Law : The adjudicating authority held that failure to attach the mandatory valuation report in private placement filings violates Rule 1...
Company Law : The adjudicating authority held that omission of mandatory documents and incorrect disclosure in PAS-3 violated Section 42. Moneta...
Company Law : The adjudicating authority held that utilisation of application money before filing PAS-3 violates Section 42. Even procedural dev...
The order clarifies that procedural violations in private placement cannot be excused merely because the company was a start-up. Strict compliance with Section 42 remains mandatory.
It was ruled that failure to file PAS-3 within 15 days attracts per-day penalties, reinforcing strict adherence to private placement disclosure timelines.
The order holds that utilisation of private placement money before allotment and filing of returns violates Section 42, attracting substantial penalties despite financial hardship claims.
Understand the process, approvals, and documentation required for issuing securities via private placement under Section 42, including limits and timelines.
Naturedge Beverages issued a private placement offer before filing the Board resolution, resulting in penalties totaling ₹4,00,000 for the company and directors.
This order highlights penalties for failing to keep private placement application money in a separate bank account. It clarifies that both the company and directors are collectively liable under Section 42(10).
Justo Realfintech Limited and its directors fined for failing to keep application money in a separate bank account under Section 42(6) of the Companies Act.
The company voluntarily disclosed non-compliance with private placement fund rules, but penalties were still imposed. The judgment shows that proactive disclosure does not eliminate liability under Section 42(10) of the Companies Act.
The adjudicating authority penalised a company and its directors for failing to disclose allottees’ PAN in Form PAS-3. The order enforces compliance with Rule 14(6) and Section 450 of the Companies Act, 2013.
ROC Chennai imposed penalties on Bon Fresh Foods Pvt. Ltd. and its directors for violating Section 42 of the Companies Act, 2013 by failing to disclose offeree details during private placement.
