XYZ Pvt Ltd is a Private Limited Company desires to issue shares through private placement to 35 gro...........

Companies Act-Phase (I & II) Share capital and debentures

XYZ Pvt. Ltd. is a Private Limited Company desires to issue shares through private placement to 35 groups of persons. At the same time Company also offered securities to 10 employees under ESOP u/s 62(1)(b). While calculating the number of persons for private placement under section 42 of the companies Act, 2013, can the company also considered numbers of employees to whom the securities have been offered under ESOP u/s 62(1)(b)?

Yes

Partly Yes

Partly No

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Explanation:

Section 42 of the Companies Act, 2013, Qualified Institutional buyer and employees to whom the securities has been offered under ESOP u/s 62(1)(b) are excluded while computing the number of persons.