, CS GAURAV SHARMA

Friday, August 10, 2018

Corporate Updates CS GAURAV 10th Aug 2018

  • S Chand buys 51% stake in Chetana Publications for $8.5m
  •  IFCI seeks buyer for its 4% stake in Clearing Corp
  •  Paytm acquires savings management app Balance Tech
  • PE slump in India’s housing segment indicates weak investor interest
  •  Chemical firm UPL in early talks to buy stake in Kaveri Seeds
  • Sequoia, Accel lead $12.2m round in two-wheeler rental start-up Metro Bikes
  •  CCI nod for Tata-Bhushan deal; Future JV with Fonterra, ACK stake sale; Adani fundraise
  • Indian competition watchdog CCI questions Flipkart’s discounting practices
  • Franklin Templeton launches maiden India AIF
  • NSE IPO depends on resolution of algo trade issue, says CEO Vikram Limaye
  •  ZipGo, Prest Loans, Propelld, Wishup, Lenskart, Mswipe, Nestaway raise funds; Google partners 91springboard
  •  Flipkart Supermart to take on Amazon, BigBasket in grocery space
  • Shyam Metallics, ASK Investment file draft IPO papers with Sebi



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Wednesday, August 08, 2018

MCA replaced the section 42 and rules for Private Placement

Major changes in provisions and rules are as follows: 1. Identified Persons: The persons to whom the private placement is to be made shall be first identified by Board. 2. Utilization of Money: As per new provision, money raised through Private placement can not be utilized unless allotment is made and return of allotment is filed with ROC. 3. Return of Allotment: Return of Allotment (Form PAS-3) shall be filed within 15 days from the date of allotment (earlier, it was 30 days). 4. Non-convertible debentures: Private placement for non-convertible debentures can be made by board resolution, if such offer amount is not exceeding the limit specified in Section 180(1)(c) of Companies Act, 2013. 5. Issue of Private placement offer letter: The Private Placement offer-cum-application letter shall be filed only after the relevant special resolution or board resolution shall be filed with ROC in Form MGT-14. 6. Replacement of document: Form PAS-4 is replaced in the new rules.




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Companies (Prospectus & Allotment of Securities) Second Amendment Rules 2018 notified