Reservation of equity shares in rights issues for holders of compulsorily convertible debt; issued at conversion on same terms. Rights issue is permitted only if the issuer reserves equity shares of the same class proportionately for holders of outstanding compulsorily convertible debt instruments; such reserved shares are to be issued at the time of conversion on the same terms as the rights issue. The issuer need not credit rights entitlements when offering such rights. The recorded amendments remove references to warrants and repeal a prior employee reservation provision.
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.
Reservation of equity shares in rights issues for holders of compulsorily convertible debt; issued at conversion on same terms.
Rights issue is permitted only if the issuer reserves equity shares of the same class proportionately for holders of outstanding compulsorily convertible debt instruments; such reserved shares are to be issued at the time of conversion on the same terms as the rights issue. The issuer need not credit rights entitlements when offering such rights. The recorded amendments remove references to warrants and repeal a prior employee reservation provision.
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