Restriction on further capital issues requires full disclosure in offer documents before additional issuances are permitted. An issuer shall not make any further issue of specified securities in any manner during the period between filing the draft letter of offer with the stock exchange(s) and the listing of the specified securities offered through the letter of offer or refund of application monies, except pursuant to an employee stock option scheme or a stock appreciation right scheme, unless full disclosures regarding the total number of specified securities or amount proposed to be raised from such further issue are made in such draft letter of offer or letter of offer.
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.
Restriction on further capital issues requires full disclosure in offer documents before additional issuances are permitted.
An issuer shall not make any further issue of specified securities in any manner during the period between filing the draft letter of offer with the stock exchange(s) and the listing of the specified securities offered through the letter of offer or refund of application monies, except pursuant to an employee stock option scheme or a stock appreciation right scheme, unless full disclosures regarding the total number of specified securities or amount proposed to be raised from such further issue are made in such draft letter of offer or letter of offer.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.