Section 23 of Companies Act, 2013

Section 23 of Companies Act, 2013

Public offer and private placement.

1.     A public company may issue securities—

a.     to public through prospectus (herein referred to as "public offer") by complying with the provisions of this Part; or

b.    through private placement by complying with the provisions of Part II of this Chapter; or

c.     through a rights issue or a bonus issue in accordance with the provisions of this Act and in case of a listed company or a company which intends to get its securities listed also with the provisions of the Securities and Exchange Board of India Act, 1992 and the rules and regulations made there under.

2.     A private company may issue securities—

a.     by way of rights issue or bonus issue in accordance with the provisions of this Act; or

b.    through private placement by complying with the provisions of Part II of this Chapter.

Explanation.—For the purposes of this Chapter, "public offer" includes initial public offer or further public offer of securities to the public by a company, or an offer for sale of securities to the public by an existing shareholder, through issue of a prospectus.

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Section 23 of Companies Act, 1956

Registration of change of name and effect thereof.

(1) Where a company changes its name in pursuance of section 21 or 22, the Registrar shall enter the new name on the register in the place of the former name, and shall issue a fresh certificate of incorporation with the necessary alterations embodied therein; and the change of name shall be complete and effective only on the issue of such a certificate.

(2) The Registrar shall also make the necessary alteration in the memorandum of association of the company.

(3) The change of name shall not effect any rights or obligations of the company, or render defective any legal proceedings by or against it; and any legal proceedings which might have been continued or commenced by or against the company by its former name may be continued by or against the company by its new name.