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of <h1>Companies Bill 2011: Clause 62 mandates proportional offer of new shares to existing shareholders, with renunciation option.</h1> Clause 62 of the Companies Bill, 2011, outlines the procedure for a company with share capital to issue additional shares. It mandates that new shares be offered to existing equity shareholders proportionate to their current holdings, with an option to renounce in favor of others. Offers must be made within 15 to 30 days, and unaccepted shares may be disposed of by the Board. Shares can also be issued to employees or other persons via special resolution. Exceptions include conversions of debentures or loans into shares, which may be directed by the Government in public interest, subject to Tribunal appeal.
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