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TMI BlogOffer or invitation for subscription of securities on private placement.X X X X Extracts X X X X X X X X Extracts X X X X ..... of securities to a section of the public otherwise than through issue of a prospectus by way of private placement basis in such form and manner as may be prescribed, if the conditions indicated in sub-section (2) and other provisions of this section are complied with. (2) An offer or invitation of securities mentioned in sub-section (1) may be made under the following conditions, namely: (a) the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntends to list its securities or not on any recognised stock exchange in or outside India, the same shall be deemed to be an offer to the public and shall accordingly be governed by the provisions of clause (a) of section 23. Explanation II . For the purposes of this section, the term "qualified institutional buyer" means the qualified institutional buyer as defined in the Securities and Exchange ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tation under this section shall allot its securities within sixty days from the date of receipt of the application money for such securities and if the company is not able to allot the securities within that period, it shall repay the application money to the subscribers within fifteen days from the date of completion of sixty days and if the company fails to repay the application money within the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mation about such offer shall be filed with the Registrar within a period of thirty days of circulation of relevant private placement offer letter. (8) No company offering securities under this section shall release any public advertisements or utilise any media, marketing or distribution channels or agents to inform the public at large about such an offer. (9) Whenever a company makes any allotme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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