Regulation 66 - Issue of convertible debt instruments for financing
Securities And Exchange Board of India (Issue Of Capital And Disclosure Requirements) Regulations, 2018 Part II ISSUE OF CONVERTIBLE DEBT INSTRUMENTS AND WARRANTS
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Convertible debt restrictions: issuers cannot finance promoter group share acquisitions, except fully convertible instruments convertible within eighteen months. An issuer shall not issue convertible debt instruments to finance, provide loans for, or acquire shares of persons in the promoter group or group companies; a limited exception allows fully convertible debt instruments for these purposes only if the conversion period is less than eighteen months from the date of issue.
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.
Convertible debt restrictions: issuers cannot finance promoter group share acquisitions, except fully convertible instruments convertible within eighteen months.
An issuer shall not issue convertible debt instruments to finance, provide loans for, or acquire shares of persons in the promoter group or group companies; a limited exception allows fully convertible debt instruments for these purposes only if the conversion period is less than eighteen months from the date of issue.
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