Which of the following statements regarding private placement under Chapter III of the Companies Act, 2013 is most accurate?
1
A company can issue securities to an unlimited number of persons through private placement.
2
The offer or invitation to subscribe to securities through private placement must be made to no more than 50 persons in a financial year.
3
Payments for securities under private placement must be made in cash only.
4
The company must file a private placement offer letter with the Registrar of Companies (RoC) before issuing any securities.
5
Private placement does not require a special resolution from the company's shareholders.