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CS Executive · Capital Market and Securities Laws · Issue of Capital and Disclosure Requirements

Orchid Pharma Ltd allots securities by private placement. Within what period must it file the return of allotment with the Registrar under Section 42 of the Companies Act, 2013?

The company must file the return of allotment, with a complete list of allottees, within fifteen days from the date of allotment. Thirty or sixty days are incorrect; sixty days is the period for completing allotment after receiving application money.

  1. AWithin thirty days from the date of allotment
  2. BWithin sixty days from the date of allotment
  3. CWithin seven days from the date of allotment
  4. DWithin fifteen days from the date of allotmentCorrect

Explanation

Section 42(8) requires a company allotting securities by private placement to file a return of allotment with the Registrar, including the list of allottees, within fifteen days from the date of allotment. The sixty-day period relates to allotting after receipt of application money.

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