Board of Directors of Beta Ltd. an unlisted company has decided to proceed for making an offer of Equity Share on preferential basis. In this connection the Vice President (Corporate Affairs) wants to know the time limit
CS Executive · Company Law and Practice · PYQS · June 2026
Board of Directors of Beta Ltd. an unlisted company has decided to proceed for making an offer of Equity Share on preferential basis. In this connection the Vice President (Corporate Affairs) wants to know the time limit for completion of allotment of shares on preferential basis.
Answer & Explanation:
As per rule 13(2)(e), the allotment of shares on a preferential basis shall be completed within a period of twelve months of date of passing of special resolution.
Topics: Company Law and Practice
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