Regulation 117 - Lock-in of party-paid securities - Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018

Lock-in of party-paid securities 117. Where the specified securities which are subject to lock-in are partly paid-up and the amount called-up on such specified securities is less than the amount called-up on the specified securities issued to the public, the lock-in shall end only on the expiry of 1 [ eighteen months] after such specified securities have become pari passu with the specified securities issued to the public. ************** Notes: 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/45. Dated 13-08-2021 before it was read as: three years