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Non applicability of the Guidelines

Non-applicability of the Guidelines The above guidelines are not applicable in the following cases: (i) Where further shares are allotted in pursuance to the merger and amalgamation scheme approved by a High Court; (ii) (a) Where further shares are allotted to a...

Certificate from Auditors

Certificate from Auditors In case, every issue of shares/warrants/FCDs/PCDs/or other financial instruments with the conversion option, the statutory auditors of the issuer company should certify that the issue of the said instruments is being made in accordance with...

Currency of Shareholders Resolutions

Currency of Shareholders Resolutions Any allotment pursuant to any resolution passed at a meeting of shareholders of a company granting consent for preferential issues of any financial instrument should be completed within a period of three months from the date of...

Non transfer Ability of Financial Instruments

Non transfer Ability of Financial Instruments The instruments allotted on a preferential basis to the promoters/promoter groups are subject to a lock-in period of three years from the date of their allotment. In any case not more than 20 per cent of the total capital...

Currency of Financial Instruments

Currency of Financial Instruments In the case of warrants/PCDs/FCDs/or any other financial instruments with a provision for the allotment of equity shares at a future date, either through conversion or otherwise, the currency of the instruments cannot exceed beyond 18...