TMI BlogSecurities ineligible for minimum promoters’ contributionX X X X Extracts X X X X X X X X Extracts X X X X ..... be eligible: (a) specified securities acquired during the preceding three years, if these are: (i) acquired for consideration other than cash and revaluation of assets or capitalisation of intangible assets is involved in such transaction; or (ii) resulting from a bonus issue by utilisation of revaluation reserves or unrealised profits of the issuer or from bonus issue against equity shar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority of India ] , as applicable, pay to the issuer the difference between the price at which the specified securities are offered in the initial public offer and the price at which the specified securities had been acquired; (ii) if such specified securities are acquired in terms of the scheme under 2 [ **** ] sections 230 to 234 of the Companies Act, 2013, as approved by a High Court or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod, in case of an issuer formed by conversion of one or more partnership firms or limited liability partnerships, where the partners of the erstwhile partnership firms or limited liability partnerships are the promoters of the issuer and there is no change in the management: Provided that specified securities, allotted to the promoters against the capital existing in such firms for a period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 391 to 394 of the Companies Act, 1956 or 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as the promoters and alternative investment funds 4. Omitted vide Notification No. SEBI/LAD-NRO/GN/ 2022/ 63 dated 14-01-2022 before it was read as under the sections 391 to 394 of the Companies Act, 1956 - - statute, statutory prov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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