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Home Bare Acts Phrase: offerCompanies Act, 2013, Section 42
Title: Offer or Invitation for Subscription of Securities on Private Placement
State: Central
Year: 2013
.....buyers and employees of the company being offered securities under a scheme of employees stock option as per provisions of clause (b) of sub-section (1) of section 62], in a financial year and on such conditions (including the form and manner of private placement) as may be prescribed. Explanation I.--If a company, listed or unlisted, makes an offer to allot or invites subscription, or allots, or enters into an agreement to allot, securities to more than the prescribed number of persons, whether the payment for the securities has been received or not or whether the company intends to list its securities or not on any recognised stock exchange in or outside India, the same shall be deemed to be an offer to the public and shall accordingly be governed by the provisions of Part I of this Chapter. Explanation II.--For the purposes of this section, the expression-- (i) "qualified institutional buyer" means the qualified institutional buyer as defined in the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time. (ii) "private placement" means any offer of securities or invitation to subscribe.....
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 64
Title: Document Containing Offer of Shares or Debentures for Sale to Be Deemed Prospectus
State: Central
Year: 1956
.....date when the offer was made, the whole consideration to be received by the company in respect of the shares or debentures had not been received by it. (3) Section 56 as applied by this section shall have effect as if it required a prospectus to State in addition to the matters required by that section to be stated in a prospectus (a) the net amount of the consideration received or to be received by the company in respect of the shares or debentures to which the offer relates; and (b) the place and time at which the contract under which the said shares or debentures have been or are to be allotted may be inspected. (4) Section 60 as applied by this section shall have effect as if the persons making the offer were persons named in a prospectus as directors of a company. (5) Where a person making an offer to which this section relates is a company or a firm, it shall be sufficient if the document referred to in sub-section (1) is signed on behalf of the company or firm by two directors of the company or by not less than one-half of the partners in the firm, as the case may be; and any such director or partner may sign by his agent authorised in writing.
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 25
Title: Document Containing Offer of Securities for Sale to Be Deemed Prospectus
State: Central
Year: 2013
.....made within six months after the allotment or agreement to allot; or (b) that at the date when the offer was made, the whole consideration to be received by the company in respect of the securities had not been received by it. (3) Section 26 as applied by this section shall have effect as if-- (i) it required a prospectus to state in addition to the matters required by that section to be stated in a prospectus-- (a) the net amount of the consideration received or to be received by the company in respect of the securities to which the offer relates; and (b) the time and place at which the contract where under the said securities have been or are to be allotted may be inspected; (ii) the persons making the offer were persons named in a prospectus as directors of a company. (4) Where a person making an offer to which this section relates is a company or a firm, it shall be sufficient if the document referred to in sub-section (1) is signed on behalf of the company or firm by two directors of the company or by not less than one-half of the partners in the firm, as the case may be.
View Complete Act List Judgments citing this sectionIndian Contract Act, 1872 Section 38
Title: Effect of Refusal to Accept Offer of Performance
State: Central
Year: 1872
.....of what he is bound by his promise to do; (3) if the offer is an offer to deliver anything to the promisee, the promisee must have a reasonable opportunity of seeing that the thing offered is the thing which the promisor is bound by his promise to deliver. (4) An offer to one of several joint promisees has the same legal consequences as an offer to all of them. Illustration A contracts to deliver to B at his warehouse, on the 1st March, 1873, 100 bales of cotton of a particular quality. In order to make an offer of a performance with the effect stated in this section, A must bring the cotton to B's warehouse, on the appointed day, under such circumstances that B may have a reasonable opportunity of satisfying himself that the thing offered is cotton of the quality contracted for, and that there are 100 bales.
View Complete Act List Judgments citing this sectionCapital Issues (Control) Act, 1947 [Repealed] Section 4
Title: Control of Advertisement of Offers of Securities for Subscription Etc.
State: Central
Year: 1947
.....been accorded by the Central Government under this to the issue or creation of such securities and a statement has been made to that effect in the offer. (3) No person shall without the consent of the Central Government circulate any offer, being a public offer, in the States for the sale of any securities issued or created with the consent or recognition of the Central Government if such issue or creation was made by a private company or if the order according consent or recognition contained a condition that the securities should be privately subscribed.] _______________________ 1. Substituted by the Capital Issues (Control) Amendment Act (Act 50 of 1957) w.e.f 21.12.1957.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 67
Title: Construction of References to Offering Shares or Debentures to the Public, Etc
State: Central
Year: 1956
.....or debenture-holders of the company concerned or as clients of the person issuing the prospectus or in any other manner. (2) Any reference in this Act or in the articles of a company to invitations to the public to subscribe for shares or debentures shall, subject as aforesaid, be construed as including a reference to invitations to subscribe for them extended to any section of the public, whether selected as members or debenture-holders of the company concerned or as clients of the person issuing the prospectus or in any other manner. (3) No offer or invitation shall be treated as made to the public by virtue of subsection (1) or sub-section (2), as the case may be, if the offer or invitation can properly be regarded, in all the circumstances - (a) as not being calculated to result, directly or indirectly, in the shares or debentures becoming available for subscription or purchase by persons other than those receiving the offer or invitation; or (b) otherwise as being a domestic concern of the persons making and receiving the offer or invitation: 1[Provided that nothing contained in this sub-section shall apply in a case where the offer or invitation to subscribe.....
View Complete Act List Judgments citing this sectionDrugs (Control) Act, 1950 Section 11
Title: Obligation to State Price Separately on Composite Offer
State: Central
Year: 1950
Where a dealer or producer makes an offer to entef into a transaction for a consideration to be given as a whole in respect both of a sale of any drug and of some other matter, the dealer or producer making the offer shall state in writing the price which he assigns to that drug, if he is required to do so by any person to whom the offer is made, and the offer shall be deemed for the purposes of this Act to be an offer to sell that drug at the price so stated.
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 23
Title: Public Offer and Private Placement
State: Central
Year: 2013
(1) A public company may issue securities-- (a) to public through prospectus (herein referred to as "public offer") by complying with the provisions of this Part; or (b) through private placement by complying with the provisions of Part II of this Chapter; or (c) through a rights issue or a bonus issue in accordance with the provisions of this Act and in case of a listed company or a company which intends to get its securities listed also with the provisions of the Securities and Exchange Board of India Act, 1992 (15 of 1992) and the rules and regulations made thereunder. (2) A private company may issue securities-- (a) by way of rights issue or bonus issue in accordance with the provisions of this Act; or (b) through private placement by complying with the provisions of Part II of this Chapter. Explanation.--For the purposes of this Chapter, "public offer" includes initial public offer or further public offer of securities to the public by a company, or an offer for sale of securities to the public by an existing shareholder, through issue of a prospectus.
View Complete Act List Judgments citing this sectionCompanies Act, 2013, Section 28
Title: Offer of Sale of Shares by Certain Members of Company
State: Central
Year: 2013
(1) Where certain members of a company propose, in consultation with the Board of Directors to offer, in accordance with the provisions of any law for the time being in force, whole or part of their holding of shares to the public, they may do so in accordance with such procedure as may be prescribed. (2) Any document by which the offer of sale to the public is made shall, for all purposes, be deemed to be a prospectus issued by the company and all laws and rules made thereunder as to the contents of the prospectus and as to liability in respect of mis-statements in and omission from prospectus or otherwise relating to prospectus shall apply as if this is a prospectus issued by the company. (3) The members, whether individuals or bodies corporate or both, whose shares are proposed to be offered to the public, shall collectively authorise the company, whose shares are offered for sale to the public, to take all actions in respect of offer of sale for and on their behalf and they shall reimburse the company all expenses incurred by it on this matter.
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 16A
Title: Assistance to Borrower when to Operate or a Charge in the Property Offered as Security
State: Central
Year: 1987
.....for the financial assistance referred to in sub-section (1), such person or institution may execute a fresh declaration, as far as may be in the form set out in the Third Schedule to this Act, whereupon the dues relating to such assistance shall, by virtue of the provisions of this section, also be a charge on the property specified in such fresh declaration. (3) A declaration made under sub-section (1) or sub-section (2) may be varied or revoked at any time by the person or institution as aforesaid, with the prior approval of the National Housing Bank. (4) Every declaration made under sub-section (1) or sub-section (2) shall be deemed to be a document registrable as an agreement under the provisions of the Registration Act, 1908 (16 of 1908) and no such declaration shall have effect unless it is so registered. ________________________ 1. Inserted by National Housing Bank (Amendment) Act, 2000 (15 of 2000)
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