Board of directors of Mega Ltd. an unlisted company has decided to move ahead for preferential offer of equity shares. In this connection the Managing Director wants to know: What is the time limit for completion of allo

Rule 13 of Companies (Share Capital and Debenture) Rules, 2014 deals with provisions on preferential offer by unlisted companies. Accordingly, Allotment of shares on a preferential basis shall be completed within a period of twelve months of the date of passing of the special resolution.