1. To make sure that Articles of Association of the Company includes arrangements for private positioning.
2. Hold the board meeting for the following items:
- to finalise the Deal Letter
- to approve problem of shares through Private Positioning
- to recognize persons to whom choice will be provided
- to authorize draft notice of General Satisfying
- Ensure that the explanatory declaration annexed to the notification for the basic conference shall divulge the basis or justification for the rate (consisting of premium, if any) at which the deal or invite is being made.
3. Hold the General Satisfying and pass the unique resolution and authorize the draft offer letter.
4. If the stated deal or invitation is for non-convertible debentures, it shall be sufficient if the business has actually passed a previous unique resolution during year for all the offers or invitation for such debentures.
5. Submit Kind MGT-14 with the Registrar within 30 days of passing the resolution.
6. Concern Letter of Offer to the proposed subscribers in Kind PAS- 4 within 30 days of passing of resolution along with application.
7. To guarantee that the deal or invite will not be made to not more than 200 individuals in the aggregate in a fiscal year omitting QIBs and employees used securities under ESOP.
8.
9. To make sure that all monies payable towards subscription of securities under this section will be paid through cheque or demand draft or other banking channels but not by cash.
10 Maintain the record of the Bank account from where such payments for subscriptions have been gotten.
11 Keep the total record of private placement offers in Form PAS-5.
12 File kind PAS-5 along with the personal placement offer letter (Form PAS-4) with the Registrar within a period of 30 days of circulation of the personal placement deal letter in Kind GNL 2 and where the business is listed, the same is likewise required to be submitted with SEBI.
13 Conduct Board Meeting for allocation of shares and make allocation of shares within sixty days of receipt of application cash.
14 Submit the return of allotment of securities with the Registrar within thirty days of allocation in Form PAS-3 together with a total list of all security holders consisting of the needed details.
15 Release the Share certificates for the new allocation and update minutes book and signs up.
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