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    Question

    As per Companies Act, allotment of securities in a

    private placement must be completed within how many days from receipt of application money?
    A 30 days Correct Answer Incorrect Answer
    B 45 days Correct Answer Incorrect Answer
    C 60 days Correct Answer Incorrect Answer
    D 75 days Correct Answer Incorrect Answer
    E 90 days Correct Answer Incorrect Answer

    Solution

    Under Section 42 of Companies Act, 2013: тАв Private placement allotment must be made within 60 days of receipt. тАв If not allotted, money must be refunded within 15 days; else it attracts 12% p.a. interest. ┬аEnsures investor protection and regulatory compliance.

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