Issue of shares on private placement basis. — THE COMPANIES ACT, 2013

42. Issue of shares on private placement basis. CHAPTER IV SHARE CAPITAL AND DEBENTURES Kinds of share capital. Nature of shares or debentures. Numbering of shares. Certificate of shares. Voting rights. Variation of shareholders’ rights. Calls on shares of same class to be made on uniform basis. Company to accept unpaid share capital, although not called up. Payment of dividend in proportion to amount paid-up. Application of premiums received on issue of shares. Prohibition on issue of shares at discount. Issues of sweat equity shares. Issue and redemption of preference shares. Transfer and transmission of securities. Punishment for personation of shareholder. Refusal of registration and appeal against refusal. Rectification of register of members. Publication of authorised, subscribed and paid-up capital. Power of limited company to alter its share capital. Further issue of share capital. Issue of bonus shares. Notice to be given to Registrar for alteration of share capital. Unlimited company to provide for reserve share capital on conversion into limited company. Reduction of share capital. Restrictions on purchase by company or giving of loans by it for purchase of its shares. Power of company to purchase its own securities. Transfer of certain sums to capital redemption reserve account. Prohibition for buy-back in certain circumstances. Debentures. Power to nominate. CHAPTERV ACCEPTANCE OF DEPOSITS BY COMPANIES Prohibition on acceptance of deposits from public. Repayment of deposits, etc., accepted before commencement of this Act. Damages for fraud. SECTIONS

Section 42