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
Preferential issue exemptions clarified; conditions on pricing, valuation and lock-in govern debt conversions and transfers. Regulation 70 exempts certain preferential issues from Chapter VII while preserving pricing and lock-in obligations in specified circumstances. Exemptions ... Summary
Preferential issue exemptions clarified; conditions on pricing, valuation and lock-in govern debt conversions and transfers.
Regulation 70 exempts certain preferential issues from Chapter VII while preserving pricing and lock-in obligations in specified circumstances. Exemptions cover conversions of debt, court/tribunal-approved schemes, rehabilitation and RBI-guided debt restructuring, and allotments to specified financial entities, subject to conditions: RBI-prescribed pricing guidelines, price certification by two independent valuers (with transitional valuer definitions), compliance with Companies Act requirements including special resolution where required, prescribed lock-in periods, and specified enhanced disclosures for certain transferees.
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