PRIVATE PLACEMENT MEMORANDUM (PPM) At the Offshore Fund level: PPM is the document that discloses all pertinent information to the investors regarding the company, proposed business operations of the company, structure of the transaction, the terms of the investment (share price, note amounts, maturity dates, etc.), potential risks for the investors, and details of the…
How is provision of Section 23 of SICA different from the provision of Section 15 of the same Act? As quoted by Supreme Court in U.P. State Sugar Corpn. Ltd. Vs. U.P. State Sugar Corpn. Karamchari Assn. and Ors.[1] “From a perusal of the aforesaid provisions of the Act it would appear that the Act…
Case List Commissioner of Income Tax, Central Circle vs. Nadatur Holdings and Investments (P.) Ltd., 2012, Karnataka High Court; [2012] 210 TAXMAN 597 (Kar); M.K. Kuppuraj and Ors. vs. Commissioner of Gift Tax, 2002, Madras High Court; [2002] 258 ITR 412 (Mad).
Section 68(1) of the new Act, deals with the issue of ‘buy-back’. The corresponding provision in the old Act is Section 77A. After a comparison of old Act and Rules as well as new Act and Rules, it is evident that there has been no significant change in the laws regarding buy-back. The changes have…
As per Section 23 of the new Companies Act, 2013, a public or private company may issue securities in any of the following manner: Public Company To public through issue of Prospectus Private Placement Rights Issue or a Bonus Issue Private Company Rights or Bonus Issue Private placement Private Placement vis-a-vis Preferential Allotment Section 42…
ONE PERSON COMPANY UNDER COMPANIES ACT, 2013 Definition of One Person Company (“OPC”) Section 2(62) of the Companies Act, 2013 (“Act”) defines OPC as a company which has only one person as a member. Legal Nature of OPC OPC can be registered only as a private company which means that all the provisions applicable to…
