Period of notice to existing shareholders for acceptance of offer of further issue of shares

Period of notice to existing shareholders for acceptance of offer of further issue of shares

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 11th February, 2021

G.S.R.113(E)—In exercise of the powers conferred by sub clause (i) of clause (a) of sub-section (1) of section 62, read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Share Capital and Debentures) Rules, 2014, namely: –

1. Short title and commencement.-(1) These rules may be called the Companies (Share Capital and Debentures) Amendment Rules, 2021.

(2) They shall come into force with effect from the 1st April, 2021.

2. In the Companies (Share Capital and Debentures) Rules 2014, after rule 12, the following rule shall inserted, namely:—

“12A. Period for notice under sub-clause (i) of clause (a) of sub-section (1) of section 62.-For the purposes of sub-clause (i) of clause (a) of sub-section (1) of section 62, the time period within which the offer shall be made for acceptance shall be not less than seven days from the date of offer.”.

[F. No. 01/04/2013-CL-V-Part-IV]

K.V.R. MURTY, Jt.Secy.

Note:—The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification number G.S.R. 265(E), dated the 31st March, 2014 and was last amended vide notification number G.S.R. 794(E), dated the 24th December, 2020

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