Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011.

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..... (E).- In exercise of the power conferred by sub-section (1A) of section 81, read with section 642, of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules to amend the Unlisted Public Companies (Preferential Allotment) Rules, 2003, namely:- 1. (1) These rules may be called the Unlisted Public Companies (Preferential Allotment) Amendment Rules, 2011. (2) Th .....

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..... is proposed, shall not be more than forty-nine as per the first proviso to sub-section (3) of section 67 of the Companies Act, 1956;'. 3. For rule 4 of the said rules, the following shall be substituted, namely:- "4. Special Resolution.- (1) No issue of Shares or any other instruments convertible into shares including hybrids convertible into shares on a prefrential basis can be made by a comp .....

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..... blic offer and the provisions of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and the Securities and Exchange Board of India Act, 1992 (15 of 1992) shall be complied with. (3) All monies payable on subscription of securities shall be paid through cheque or demand draft or other banking channels but not by cash. (4) Any allotment of securities shall be completed within sixty days .....

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