Regulation 93 - Restriction on bonus issue - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009

Restriction on bonus issue. 93. (1) No issuer shall make a bonus issue of equity shares 1 [***] unless it has made reservation of equity shares of the same class in favour of the holders of 2 [***] outstanding 3 [compulsorily] convertible debt instruments 4 [,if any,] in proportion to the convertible part thereof. (2) The equity shares 5 [so] reserved for the holders of fully or partly 6 [compulsorily] convertible debt instruments shall be issued at the time of conversion of such convertible debt instruments on the same terms or same proportion 7 [at] which the bonus shares were issued. ******** 1 The words and symbol if it has outstanding fully or partly convertible debt instruments at the time of making the bonus issue, omitted by SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012, w.e.f 07.02.2012. 2 The word such omitted, by SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012, w.e.f 07.02.2012. 3 Inserted by SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012, w.e.f 07.02.2012. 4 Inserted by SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012, w.e.f 07.02.2012. 5 Inserted by SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012, w.e.f 07.02.2012. 6 Inserted by SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012, w.e.f 07.02.2012. 7 Substituted for the word on by SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2012, w.e.f 07.02.2012.