Acquisition of right shares

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..... n of right shares :- (1) A person resident outside India may purchase equity or preference shares or convertible debentures offered on right basis by an Indian company which satisfies the conditions specified in sub-regulation (2). (2) An Indian company which satisfies the following conditions, may offer to a person resident outside India, equity or preference shares or convertible debentur .....

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..... is to the persons resident outside India shall be: (a) in the case of shares of a company listed on a recognized stock exchange in India, at a price as determined by the company; (b) in the case of shares of a company not listed on a recognized stock exchange in India, at a price which is not less than the price at which the offer on right basis is made to resident share .....

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..... ded vide Notification No. 076/2002 dated 12/11/2002 2. Sub-regulation 2(ii) and 2(iii) has been renumbered as Sub-Regulation 2(iii) and 2(iv) respectively vide Notification No. Supra 3. Substituted vide notification no. 205/2010-RB dated 7-4-2010 , before it was read as, 2 [iv) The offer on right basis to the persons resident outside India is at a price which is .....

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