Process

Term sheet to cash in bank a/c

    • Sign Term sheet
    • Hire a lawyer familiar with company law to draft a Shareholder agreement
    • Hiring a CA / CA firm with Company secretary (CS) associates to handle ROC filings to process investment
    • Get agreement with investors on Shareholder Agreement. Convening a Board meeting for authorizing the execution of shareholder agreement
    • Execution of shareholder agreement
    • Issuing form PAS-4 (offer letter ) to the investors along with share application forms serially numbered
    • Filling of Form PAS-4 (offer letter) with the ROC within 30 days from the circulation of Form PAS 4
    • Completion of all Conditions Precedent (if any in the shareholders agreement)
    • Investors shall notify their approval, on which the Investors shall subscribe to shares
    • Convening a Board Meeting for issue and allotment of shares to the investors, alteration of the articles of association
    • Appointment of nominee director (if mentioned as part of the agreement) on the board
    • Receiving the nominee director’s consent in Form DIR-2
    • Filling of Form PAS 3 with the RoC (within 30 days from the date of the allotment of shares)
    • Filling of Form MGT 14 (declaration of key resolutions) with the RoC, after enclosing the closing board resolution and the shareholders’ resolution
    • Filling of Form DIR -12 (after attaching Form DIR – 2, providing for consent to hold the office of a director) with the RoC for appointment of nominee director (if mentioned as part of agreement)