Vishal, Chief Executive Officer (CEO) of Sigma Ltd., an unlisted company, has decided to place before the Board a proposal for rights issue of equity shares. In this connection Vishal wants to know from you, corporate se

As per section 62(1)(a) of the Companies Act, 2013 and rule 12A of the Companies (Share Capital and Debentures) Rules, 2014. The offer for rights issue shall be made by notice, specifying the number of shares offered: (i) Limiting a time not being less than fifteen days or such lesser number of days as may be prescribed and not more than 30 days from the date of the offer within which the offer, if not accepted, shall be deemed to have been declined; (ii) The offer shall be deemed to include right of renunciation, unless the articles of the company otherwise provide; and the notice referred above shall contain a statement of this right; The CEO of Sigma Ltd. is to be guided accordingly.