ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISESSecurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISESSecurities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
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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