https://www.taxtmi.com/acts?id=15497 Shares proposed in an increase of subscribed capital must be offered to existing equity shareholders proportionately by notice specifying number of shares and a limited acceptance period; the offer may include a right to renounce in favour of another person, and unaccepted shares may be disposed of after the notice period in a manner not disadvantageous to shareholders and the company. Offers must be despatched by registered or speed post or electronic mode. Exceptions include issuance under employee stock option schemes by special resolution and issuance to others by special resolution with valuation, and conversion of debentures or loans into shares subject to specified conditions and governmental conversion powers with Tribunal appeal. en-us Tue, 20 Dec 2011 10:17:13 +0530 Tue, 20 Dec 2011 10:17:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=15497 Shares proposed in an increase of subscribed capital must be offered to existing equity shareholders proportionately by notice specifying number of shares and a limited acceptance period; the offer may include a right to renounce in favour of another person, and unaccepted shares may be disposed of after the notice period in a manner not disadvantageous to shareholders and the company. Offers must be despatched by registered or speed post or electronic mode. Exceptions include issuance under employee stock option schemes by special resolution and issuance to others by special resolution with valuation, and conversion of debentures or loans into shares subject to specified conditions and governmental conversion powers with Tribunal appeal. Act-Rules Bill Tue, 20 Dec 2011 10:17:13 +0530 https://www.taxtmi.com/acts?id=15497