Promoters' contribution ineligibility: specified recently acquired or discounted securities excluded from minimum promoters' contribution computation. Regulation 15 specifies categories of securities ineligible for minimum promoters' contribution: securities acquired in the preceding three years for non cash consideration or involving asset revaluation or bonus issues from revaluation/unrealised profits; securities pledged with creditors; securities acquired in the preceding one year by promoters or certain investors at prices below the IPO price (subject to payment of the price difference or specified restructuring and conversion exceptions); and specific rules for issuers formed by conversion of partnership entities, with eligibility restored where acquisition is pursuant to an approved restructuring scheme.
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.
Promoters' contribution ineligibility: specified recently acquired or discounted securities excluded from minimum promoters' contribution computation.
Regulation 15 specifies categories of securities ineligible for minimum promoters' contribution: securities acquired in the preceding three years for non cash consideration or involving asset revaluation or bonus issues from revaluation/unrealised profits; securities pledged with creditors; securities acquired in the preceding one year by promoters or certain investors at prices below the IPO price (subject to payment of the price difference or specified restructuring and conversion exceptions); and specific rules for issuers formed by conversion of partnership entities, with eligibility restored where acquisition is pursuant to an approved restructuring scheme.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
