A proposed revision of private placement guidelines for
India’s unlisted public companies has been
criticised by bankers counsel in the country.
The new Unlisted Public Companies (Preferential Allotment)
Rules 2011 are being formulated by India’s
Ministry of Corporate Affairs (MCA).
They aim to address private company funding problems raised
during the Securities and Exchange Board of
India’s (Sebi) ongoing investigation into Indian
conglomerate, Sahara Group.
Kotak Mahindra Capital’s chief legal and