{"id":266557,"date":"2022-05-06T18:30:57","date_gmt":"2022-05-06T13:00:57","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=266557"},"modified":"2022-05-06T15:36:06","modified_gmt":"2022-05-06T10:06:06","slug":"application-under-private-placement-made-compulsory-for-corporate-bodies-vide-companies-prospectus-and-allotment-of-securities-amendment-rules-2022","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/05\/06\/application-under-private-placement-made-compulsory-for-corporate-bodies-vide-companies-prospectus-and-allotment-of-securities-amendment-rules-2022\/","title":{"rendered":"Application under private placement made compulsory for corporate bodies vide Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>On 5<sup>th<\/sup> May, 2022<\/strong>, Ministry of Corporate Affairs, notified <strong>Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022<\/strong>. With immediate effect it will amend <u>Companies (Prospectus and Allotment of Securities) Rules, 2014 (<strong>Rules<\/strong>)<\/u><strong>. <\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>Key amendment:<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>\u00a0<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>All private placement offer letters are to be accompanied with the details of the applicant in written\/electronic form under <em><u>Rule 14<\/u> <\/em>of the Companies (Prospectus and Allotment of Securities) Rules, 2014.<\/li>\n<\/ul>\n<p style=\"text-align: justify; padding-left: 40px;\"><u>An addition proviso is added by <em>Rule 2(i)<\/em><\/u>&#8211;<\/p>\n<p style=\"text-align: justify; padding-left: 40px;\">\u201cProvided also that no offer or invitation of any securities under this rule shall be made to a body corporate incorporated in, or a national of, a country which shares a land border with India, unless such body corporate or the national, as the case may be, have obtained Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 and attached the same with the private placement offer cum application letter.\u201d<\/p>\n<p style=\"text-align: justify; padding-left: 40px;\">\n<ul style=\"text-align: justify;\">\n<li>Offers letters\/Invitation for subscription of securities on private placement is issued under <em>Section 42<\/em> of <em>Companies Act, 2013<\/em>.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><u>The Form given in the <strong>Rules<\/strong> is modified in the following manner by <em>Rule 2(ii)<\/em><\/u>&#8211;<\/p>\n<p style=\"text-align: justify;\">In Annexure of <strong>Rules<\/strong>, in Form PAS-4 (Part B)-<\/p>\n<p style=\"text-align: justify; padding-left: 40px;\">\u201c(viii) Tick whichever is applicable:<\/p>\n<p style=\"text-align: justify; padding-left: 40px;\">(a) The applicant is not required to obtain Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to subscription of shares.-\u2026\u2026 ;<\/p>\n<p style=\"text-align: justify; padding-left: 40px;\">(b) The applicant is required to obtain Government approval under the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 prior to subscription of shares and the same has been obtained, and is enclosed herewith.-\u2026\u2026.\u201d<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h4><span style=\"color: #000080;\">*Shubhi Srivastava, Editorial Assistant has reported this brief.<\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>On 5th May, 2022, Ministry of Corporate Affairs, notified Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022. With immediate effect it <\/p>\n","protected":false},"author":121,"featured_media":265147,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-266557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Application under private placement made compulsory for corporate bodies vide Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2022\/05\/06\/application-under-private-placement-made-compulsory-for-corporate-bodies-vide-companies-prospectus-and-allotment-of-securities-amendment-rules-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Application under private placement made compulsory for corporate bodies vide Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022\" \/>\n<meta property=\"og:description\" content=\"On 5th May, 2022, Ministry of Corporate Affairs, notified Companies (Prospectus and Allotment of Securities) Amendment Rules, 2022. 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30, 2023","format":false,"excerpt":"On 27-10-2023, the Ministry of Corporate Affairs notified the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023 to amend the Companies (Prospectus and Allotment of Securities) Rules, 2014. 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Key Points: Rule 9 relating to \u201cDematerialisation of securities\u201d has been revised and\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"ministry of corporate affairs","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/06\/ministry-of-corporate-affairs.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":6735,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/08\/06\/listing-and-issue-of-prospectus-mandatory-before-public-placement-offer-sebi-found-alchemist-capital-ltd-and-its-directors-guilty-of-illegally-raising-capital-from-the-public\/","url_meta":{"origin":266557,"position":1},"title":"Listing, and issue of prospectus mandatory before public placement offer \u2014SEBI found Alchemist Capital Ltd and its directors guilty of illegally raising capital from the public","author":"Sucheta","date":"August 6, 2015","format":false,"excerpt":"Security and Exchange Board of India: Alchemist Capital Ltd (\u201cACL\u201d), an NBFC, has been found guilty for making offer and allotment of securities (RPS) in the garb of private placement to general public without complying with law. \u00a0The Company failed to comply with the norms stipulated for public issue of\u2026","rel":"","context":"In &quot;Tribunals\/Commissions\/Regulatory Bodies&quot;","block_context":{"text":"Tribunals\/Commissions\/Regulatory Bodies","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/tribunals_commissions_regulatorybodies\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/scc-blog_Page_9.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":267806,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/06\/02\/legislations-monthly-roundup-may-2022\/","url_meta":{"origin":266557,"position":2},"title":"Legislations | Monthly RoundUp [May, 2022]","author":"Bhumika Indulia","date":"June 2, 2022","format":false,"excerpt":"Legal Round Up for the month of May is mentioned below: \u00a0 MINISTRY OF CORPORATE AFFAIRS Companies (Share Capital and Debentures) Amendment Rules 2022 The Central Government has notified Companies (Share Capital and Debentures) Amendment Rules 2022 to amend the Companies (Share Capital and Debenture) Rules, 2014. The amendment has\u2026","rel":"","context":"In &quot;Legal RoundUp&quot;","block_context":{"text":"Legal RoundUp","link":"https:\/\/www.scconline.com\/blog\/post\/category\/columns-for-roundup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-134.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-134.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-134.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-134.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/MicrosoftTeams-image-134.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":306011,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/10\/31\/legislation-roundup-october-2023-legal-update\/","url_meta":{"origin":266557,"position":3},"title":"Legislation Roundup October 2023: Amnesty Scheme for taxpayers; Approval of 4% hike in DA and DR; Green Credit Rules; and more","author":"Kriti","date":"October 31, 2023","format":false,"excerpt":"UNION CABINET Cabinet approves 4% hike in DA and DR w.e.f. from 1-7-2023 On 18-10-2023, the Union Cabinet has approved a 4% hike in Dearness Allowance (\u2018DA\u2019) for Central Government employees and Dearness Relief (\u2018DR\u2019) for pensioners. 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