Prior permission for acquiring foreign securities governs qualification shares, employee purchases and ADR/GDR stock option conditions. Prior permission governs acquisitions of foreign securities by residents in India, requiring Reserve Bank approval in specified cases. Individuals may acquire qualification shares only to the minimum required for directorships and within a monetary ceiling; purchases beyond those limits need prior approval. Rights shares are permitted when issued by virtue of existing holdings. Employee purchases in software sector joint ventures or subsidiaries and ADR/GDR linked stock option acquisitions are allowed subject to per-employee consideration caps, limits on shareholding proportions, and safeguarding of the promoter company's pre-allotment shareholding.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Prior permission for acquiring foreign securities governs qualification shares, employee purchases and ADR/GDR stock option conditions.
Prior permission governs acquisitions of foreign securities by residents in India, requiring Reserve Bank approval in specified cases. Individuals may acquire qualification shares only to the minimum required for directorships and within a monetary ceiling; purchases beyond those limits need prior approval. Rights shares are permitted when issued by virtue of existing holdings. Employee purchases in software sector joint ventures or subsidiaries and ADR/GDR linked stock option acquisitions are allowed subject to per-employee consideration caps, limits on shareholding proportions, and safeguarding of the promoter company's pre-allotment shareholding.
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