Chapter 3 - Corporate Law Reporter

Form PAS-5 of Companies Act, 2013 – Record of a private placement offer to be kept by the company

Record of a private placement offer to be kept by the company Section 42(7) and Rule 14(3) of Companies (Prospectus and Allotment of Securities) Rules, 2014 Read More

Form PAS-4 of Companies Act, 2013 – Private Placement Offer Letter

Private Placement Offer Letter Pursuant to section 42 and rule 14(1) of Companies (Prospectus and Allotment of Securities) Rules, 2014 Read More

Form PAS-1 of Companies Act, 2013 – Advertisement giving details of notice of special resolution for varying the terms of any contract referred to in the prospectus or altering the objects for which the prospectus was issued

Advertisement giving details of notice of special resolution for varying the terms of any contract referred to in the prospectus or altering the objects for which the prospectus was issued Pursuant to section 27(1) and rule7(2) of Companies (Prospectus and Allotment of Securities) Rules, 2014 Read More

Section 42 of Companies Act, 2013 – Offer or Invitation for Subscription of Securities on Private Placement

SECTION 42. OFFER OR INVITATION FOR SUBSCRIPTION OF SECURITIES ON PRIVATE PLACEMENT [Effective from 1st April, 2014] [2] [(1) A company may, subject to the provisions of this section, make a private placement of securities. (2) A private placement shall be made only to a select group of persons who have been identified by the… Read More

Section 41 of Companies Act, 2013 – Global Depository Receipt

SECTION 41. GLOBAL DEPOSITORY RECEIPT [Effective from 1st April, 2014] A company may, after passing a special resolution in its general meeting, issue depository receipts in any foreign country in such manner, and subject to such conditions, as may be prescribed. Applicable Rules Companies (Issue of Global Depository Receipts) Rules, 2014 [Effective from 1st April,… Read More

Section 40 of Companies Act, 2013 – Securities to be Dealt with in Stock Exchanges

SECTION 40. SECURITIES TO BE DEALT WITH IN STOCK EXCHANGES [Effective from 12th September, 2013 except sub-section (6)] [Sub-section (6) is effective from 1st April, 2014] (1) Every company making public offer shall, before making such offer, make an application to one or more recognised stock exchange or exchanges and obtain permission for the securities… Read More

Section 39 of Companies Act, 2013 – Allotment of Securities by Company

SECTION 39. ALLOTMENT OF SECURITIES BY COMPANY [Effective from 12th September, 2013 except sub-section (4)] [Sub-section (4) is effective from 1st April, 2014] (1) No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed… Read More

Section 38 of Companies Act, 2013 – Punishment for Personation for Acquisition, etc., of Securities

SECTION 38. PUNISHMENT FOR PERSONATION FOR ACQUISITION, ETC., OF SECURITIES [Effective from 12th September, 2013] (1) Any person who— (a) makes or abets making of an application in a fictitious name to a company for acquiring, or subscribing for, its securities; or (b) makes or abets making of multiple applications to a company in different… Read More

Section 37 of Companies Act, 2013 – Action by Affected Persons

SECTION 37. ACTION BY AFFECTED PERSONS [Effective from 12th September, 2013] A suit may be filed or any other action may be taken under section 34 or section 35 or section 36 by any person, group of persons or any association of persons affected by any misleading statement or the inclusion or omission of any… Read More

Section 36 of Companies Act, 2013 – Punishment for Fraudulently Inducing Persons to Invest Money

SECTION 36. PUNISHMENT FOR FRAUDULENTLY INDUCING PERSONS TO INVEST MONEY [Effective from 12th September, 2013] Any person who, either knowingly or recklessly makes any statement, promise or forecast which is false, deceptive or misleading, or deliberately conceals any material facts, to induce another person to enter into, or to offer to enter into,— (a) any… Read More

Section 35 of Companies Act, 2013 – Civil Liability for Mis-Statements in Prospectus

SECTION 35. CIVIL LIABILITY FOR MIS-STATEMENTS IN PROSPECTUS [Effective from 12th September, 2013 except clause (e) of sub-section (1)] [Clause (e) of sub-section (1) is effective from 1st April, 2014] (1) Where a person has subscribed for securities of a company acting on any statement included, or the inclusion or omission of any matter, in… Read More

Section 34 of Companies Act, 2013 – Criminal Liability for Mis-Statements in Prospectus

SECTION 34. CRIMINAL LIABILITY FOR MIS-STATEMENTS IN PROSPECTUS [Effective from 12th September, 2013] Where a prospectus, issued, circulated or distributed under this Chapter, includes any statement which is untrue or misleading in form or context in which it is included or where any inclusion or omission of any matter is likely to mislead, every person… Read More

Section 33 of Companies Act, 2013 – Issue of application forms for securities

SECTION 33. ISSUE OF APPLICATION FORMS FOR SECURITIES [Effective from 12th September, 2013 except sub-section (3)] [Sub-section (3) is effective from 1st April, 2014] (1) No form of application for the purchase of any of the securities of a company shall be issued unless such form is accompanied by an abridged prospectus: Provided that nothing… Read More