After section 28 of the original Act, the following section 28A. Added:-

"28A. Private transfer or allotment of securities:- (1) Without prejudice to the generality of sections 23 and 28, a company shall offer private transfer or allotment of its securities subject to the provisions of this section. Can do.
(2) When making a request for the purchase of securities through a private transfer proposal in accordance with sub-section (1), a company may request a maximum of fifty investors in one financial year to distribute shares according to the conditions and procedures prescribed so that the status of basic share holders can be maintained at least in accordance with section 50.

(3) In accordance with the agreement made with any investor or institutional investor who wants to invest in any transaction or business as a strategic partner to fulfill the objectives of the company, the sale may be distributed according to this section.

(4) Purchased according to this section The amount of security deposit should be paid through cheque, demand draft or banking system and such amount should be deposited in a separate bank account. And if the securities cannot be distributed, the amount collected for the purchase of securities shall be used to return the petitioner to the petitioner.

(6) According to this section, the name of the investor to whom the request letter for the purchase of securities has been sent and the specified details shall be prepared and distributed by the company. It must be submitted to the office within thirty days from the date of doing so.

(7) The letter sent for the purchase of shares in accordance with this section must disclose the specified details and such letter or details cannot be publicly published or distributed.

(8) In case of sending a request letter for the purchase of securities according to this section, the securities shall be distributed within sixty days of receipt of funds for the purchase of securities according to such request letter and if the securities cannot be distributed within that period orThe amount in excess of the value of the securities with interest shall be returned to the petitioner within fifteen days of the completion of sixty days and if not returned within that period, such amount shall be returned to the petitioner with interest at the rate of two percent per annum.
(9) In case of sale and distribution of shares in accordance with this section, the specified details of the security holders along with the details thereof shall be submitted to the office within thirty days of such distribution. , sale, distribution or allotment shall be deemed to be a public issue of securities and such issue shall be done in accordance with the prevailing law relating to securities transactions. There will be an equal penalty and such company will have to return the full amount of the securities purchaser.

(12) If the company fails to return the amount according to sub-section (11), the founder or director of the company will have to bear such amount personally.

p>(13) Notwithstanding anything written elsewhere in this section, the shares set aside for public issue at the time of incorporation of the company cannot be transferred or issued privately in accordance with this section.