Corpdaily by CS Kartik Arora

Private Placement means the offer and issuance of shares to a select group of persons by a Company.  The Procedure for issuance of shares on a Private Placement Basis is as follows:  1) Hold a Board Meeting: The first and the foremost step for issuing shares on a Private Placement Basis is to hold a Board Meeting for the following purposes: a) Approving the list of persons to whom the shares shall be issued on a Private Placement basis.  b) To approve the offer letter for issuance of shares (Form PAS-4) c) Calling an Extra-Ordinary General Meeting ("EGM") for obtaining the consent of the shareholders for issuance of shares on a Private Placement Basis.   2) Call an Extra-Ordinary General Meeting ("EGM") to approve the resolution for the issuance of shares on a private placement basis as a special resolution and to approve the offer letter to be circulated for this purpose.  3) File the Form MGT-14 within 30 days of approval of the resolution by the shareholders...

Ministry of Corporate Affairs ("MCA") has notified further extension period for names which have been reserved during the period starting from March 15'2020 and ending on July 31'2020. The link to the notification is given below. Stakeholders may take note of the same. http://www.mca.gov.in/Ministry/pdf/Extension_22042020.pdf

The objects clause describes the permissible business activities that a company can undertake to achieve its goals.  The Company can therefore only undertake activities that are mentioned in its object clause and any activity which is not mentioned in the objects clause shall be considered as void-ab-initio (Void from the very beginning). There are two types of objects mentioned in the Memorandum of Association of a Company Main Objects: The Main Objects describe the purpose for which the company has been incorporated.  Ancillary/Incidental Objects: These include incidental activities necessary for the furtherance of main objects of the Company. Procedure for Alteration of object clause of the Memorandum of Association (MOA):   Hold a Board Meeting to consider and approve the agenda of Alteration of the Object Clause of the Memorandum of Association of the Company and to fix the day, date and time to conduct an Extra-Ordinary General Meeting (EGM) f...