Regulation 22 - Transferability of locked-in specified securities
Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018 Part IV LOCK-IN AND RESTRICTIONS ON TRANSFERABILITY
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Transferability of locked-in securities: transfers permitted among promoters or specified holders, with lock-in continuing on transferee. Regulation 22 allows promoters' specified securities locked-in under the regulations (excluding SR equity shares) to be transferred to another promoter, promoter group member, or a new promoter, and allows locked-in specified securities held by non-promoters to be transferred only to another holder of specified securities locked-in together. The lock-in obligation continues with the transferee, who may not transfer the securities until the original lock-in period has expired, subject to applicable substantial acquisition rules.
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.
Transferability of locked-in securities: transfers permitted among promoters or specified holders, with lock-in continuing on transferee.
Regulation 22 allows promoters' specified securities locked-in under the regulations (excluding SR equity shares) to be transferred to another promoter, promoter group member, or a new promoter, and allows locked-in specified securities held by non-promoters to be transferred only to another holder of specified securities locked-in together. The lock-in obligation continues with the transferee, who may not transfer the securities until the original lock-in period has expired, subject to applicable substantial acquisition rules.
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