Regulation 35 - Date of commencement of lock in and inscription of non-transferability
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Part IV RESTRICTION ON TRANSFERABILITY (LOCK-IN) OF PROMOTERS’ CONTRIBUTION, ETC.
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Lock-in restriction on specified securities requires non-transferable inscription and depository recording for the prescribed period. Regulation 35 requires that specified securities allotted in a proposed public issue to promoters and others be subject to lock-in and be non-transferable ... Summary
Lock-in restriction on specified securities requires non-transferable inscription and depository recording for the prescribed period.
Regulation 35 requires that specified securities allotted in a proposed public issue to promoters and others be subject to lock-in and be non-transferable from allotment for the prescribed period; certificates must bear "non-transferable" and the lock-in period, and dematerialised securities must have the lock-in recorded by the depository. Partly paid securities remain locked-in until three years after they become pari-passu with public-issued securities when their called-up amounts equalise.
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