Manas Ingle

Legal Associate@NovoJuris Legal

[NovoJuris Legal @novojuris]

@anujmaharana No. MCA, on 7 August 2018, amended section 42 of the Companies Act 2013. Pursuant to this notification, few relaxation and few additional conditions made. As per the said notification, the Company need not file PAS 4 with the RoC. But PAS 5 has to be filed with PAS 3 on allotment

[NovoJuris Legal @novojuris]

@Sohini2688 The Company can use investment money only upon allotting securities against such money and Form PAS 3 (Return of Allotment) is filed with the RoC.

[NovoJuris Legal @novojuris]

@prasanna_says It need not be a new bank account. The Company can designate its existing bank account for this purpose. However, until the completion of private placement, this bank account cannot be used for any other purposes.

[NovoJuris Legal @novojuris]

@Pushpesh3108 Yes. The Company need to justify the proposed issue price and for this purpose it has to appoint the registered valuer who can issue the valuation report.

[NovoJuris Legal @novojuris]

@chandernakul Need to have a lot of details before responding to this query

[NovoJuris Legal @novojuris]

@prasanna_says The requirement is for a separate bank account. And once the allotments and ROC filing completed, is when the investment amount can be utilised by the company.

[NovoJuris Legal @novojuris]

@chandernakul Under Companies Act, within 60 days of receipt of money, it has to be allotted or returned. Interest to be paid beyond this period. Under RBI guidelines, permission to be obtained if returned beyond 60 days.

[NovoJuris Legal @novojuris]

@HCharanpahadi Yes. Two offer under private placement can be made at the same time subject to the conditions as provided under Rule 14 of the Companies (Prospectus & Allotment of Securities) Rules 2014.

[NovoJuris Legal @novojuris]

Thank you all for all your questions. For any other clarifications, please write to us at [email protected]

[chander @chandernakul]

@novojuris In a scenario if corporate/private investor is looking for Equity/private placement from overseas in India and pays up to the company. But In meantime has to back out under different circumstances. How does India company pays back to the investor? Any penalisation? Withholdings?

[Manas Ingle @IngleManas]

@novojuris @novojuris Do we have to comply with the requirement of minimum investment size of INR 20,000/- of face value securities per person?

[Manas Ingle @IngleManas]

@novojuris @novojuris Do we have to comply with the requirement of minimum investment size of INR 20,000/- of face value securities per person?

[Tina Chessman @chessman_tina]

Thank you @novojuris for hosting the #DISHAtalk @IngleManas for answering questions. It was great participating and learning about the draft bill. #DISHA #protection #security

[Manas Ingle @IngleManas]

@novojuris All clinical establishments including but not limited to hospitals, maternity homes, nursing home, dispensaries or an institution providing diagnosis, treatment or care for illness, injury, deformity, abnormality or pregnancy, and others. Kindly refer to section 3(1)(i) of DISHA.

[Manas Ingle @IngleManas]

@novojuris DISHA - Digital Information Security in Healthcare Bill, 2017 addresses promotion, adoption, safeguarding, securing and maintaining the privacy of e-health records in India. Further, DISHA would establish Digital Health Authorities and Health Information Exchanges.

[Manas Ingle @IngleManas]

@novojuris DISHA - Digital Information Security in Healthcare Bill, 2017 addresses promotion, adoption, safeguarding, securing and maintaining the privacy of e-health records in India. Further, DISHA would establish Digital Health Authorities and Health Information Exchanges.

[Manas Ingle @IngleManas]

@novojuris Looking forward to be online and talking about DISHA#ehealthrecords#dataprivacy