https://www.taxtmi.com/article/detailed?id=16688 Private placement proceeds must be used only for the objects disclosed in the offer and explanatory statement, and cannot be diverted to loans, advances or investments unrelated to those objects. Immediate diversion of the funds may constitute breach of the Companies Act, SEBI law and PFUTP Regulations. A later shareholder resolution cannot validate an act that was illegal from inception or cure the securities-law violations. Regulatory consequences may include investigation, market-access restrictions and monetary penalties. en-us Thu, 18 Jun 2026 08:46:10 +0530 Thu, 18 Jun 2026 08:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=16688 Private placement proceeds must be used only for the objects disclosed in the offer and explanatory statement, and cannot be diverted to loans, advances or investments unrelated to those objects. Immediate diversion of the funds may constitute breach of the Companies Act, SEBI law and PFUTP Regulations. A later shareholder resolution cannot validate an act that was illegal from inception or cure the securities-law violations. Regulatory consequences may include investigation, market-access restrictions and monetary penalties. Articles Corporate Laws / IBC / SEBI Thu, 18 Jun 2026 08:46:10 +0530 https://www.taxtmi.com/article/detailed?id=16688