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Real Estate Forum on Ministry Of Corporate Affairs

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Q: SEBI has found that the company had mobilised Rs 99.06 lakh by issuing RPS to 294 investors between 2011-2013.
Latest Answer: Hi friends, Since the shares were issued by the firm to more than 50 people, it qualified as a public issue that requires compulsory listing on recognised stock exchanges. The company and its directors were also required to file a prospectus, among other things, which they failed to do.
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