Section 62 of CA 2013 : Section 62: Further Issue Of Share Capital
CA 2013
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Explanation using Example
Imagine a company named "Tech Innovations Ltd." with a share capital, planning to expand its operations. To fund this expansion, it decides to issue additional shares. The board of directors, following Section 62 of the Companies Act, 2013, must first offer these new shares to the existing equity shareholders, proportional to their current shareholding.
For example, if John holds 10% of the equity shares, he gets an offer to buy an additional 10% of the new shares being issued. The company sends John a letter of offer, giving him 15 days to accept. The letter also states that John can renounce these shares in favor of someone else, say his s...
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