: (1) In case of a public company inviting applications to the general public for the purchase of shares, it shall distribute the shares within three months at most from the date of closing of the issue of shares and give notice to the shareholders in the prescribed format. However, in the absence of a guarantee agreement regarding the purchase of at least fifty percent of the publicly issued shares, if at least fifty percent of the total publicly issued shares cannot be sold, the shares should not be distributed.
(2) For reasons mentioned in the restrictive phrase of sub-section (1), the office shall extend the period of up to three months for the distribution of shares, if the company submits an application within seven days after the expiry of the said period, due to the reason mentioned in the restrictive phrase of sub-section (1). If the shares cannot be distributed even within the extended period, the company can distribute the shares that could not be distributed through negotiations or in any other way.
(3) If the distribution of shares cannot be done within the period as per sub-section (1) or (2), the amount received for the purchase of shares from the date of payment of such period and the interest on such amount shall be returned as specified.
(4) If the amount to be returned according to sub-section (3) is not enough, the founders and directors will have to bear the amount that is not enough.
(5) According to sub-section (1) or (2), if the shares are distributed in a discriminatory manner or with the intention of causing harm to any investor, any investor may file a complaint with the court regarding the matter.
(6) If a complaint is filed in accordance with sub-section (5), if any investor has suffered loss due to the fact that any official of the company has knowingly violated this section or allowed someone to do such a violation, the compensation and reasonable expenses incurred in the case shall be paid personally by such official. The court can order.