Preferential issue exemptions: Chapter provisions do not apply to debt conversions, restructuring schemes, or qualified placements. The regulation specifies exemptions from Chapter V preferential issue rules for conversions of debt, court- or tribunal-approved restructuring schemes, and qualified institutional placements, while preserving certain pricing and lock-in obligations. It exempts securities allotted to specified financial institutions from pricing and lock-in, permits Board relaxations where adequate explanatory disclosures about allottees are made, and sets conditions for lender allotments under debt restructuring, including RBI-guided conversion pricing, independent valuer certification, a one-year lock-in with transferable control subject to continued lock-in, lock-in adjustments for prior locks, and compliance with company law including special resolution requirements.
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.
Preferential issue exemptions: Chapter provisions do not apply to debt conversions, restructuring schemes, or qualified placements.
The regulation specifies exemptions from Chapter V preferential issue rules for conversions of debt, court- or tribunal-approved restructuring schemes, and qualified institutional placements, while preserving certain pricing and lock-in obligations. It exempts securities allotted to specified financial institutions from pricing and lock-in, permits Board relaxations where adequate explanatory disclosures about allottees are made, and sets conditions for lender allotments under debt restructuring, including RBI-guided conversion pricing, independent valuer certification, a one-year lock-in with transferable control subject to continued lock-in, lock-in adjustments for prior locks, and compliance with company law including special resolution requirements.
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