company matter
jayati
(Querist) 21 June 2011
This query is : Resolved
1. whether multiple series/ multipal terms/ differential rate of preference shares can be issued?
2. the preference shares are issued on private placement basis. how far section 67, sub-section 3 of the companies act 1956 is applicable in our case as our company is registered as a non-banking finance company under section 45 1 (a) of the RBI Act 1934?
3. whether we can issue shares over the term by holding the money 'preference share application pending allotment a/c' and the same being repaid at the end of the term, without issuing shares? whether authorised capital in this case has to be increased?
4. whether we can raise money directly by way of public deposit or other modes of debt instruments?
Dr. Imran Ahmad, MOZA
(Expert) 26 June 2011
Please note my saying:
I have not read those details for the type of company setup you are taking. But that company is registered as a non-banking finance company. Which has provisions different. They are not frauds as per your series of worries. But where is end for such companies I can not say.
Regards.
