Time limit given to existing shareholders to accept the offer of right issue shall not be less than ...........

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

Time limit given to existing shareholders to accept the offer of right issue shall not be less than ……. Days but not more than…….. days of offer

15 and 30

15 and 20

5 and 30

10 and 60

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Explanation:

Rights Issue shall be kept open for at least 15 days but not more than 30 days. If the issuer company does not receive the minimum subscription of 90% of the issue, the entire subscription shall be refunded to the applicants within 15 days from the date of closure of the issue.