Relevant date for preferential issue defined as thirty days before shareholders' meeting or approval date for stressed-assets. The relevant date for preferential issues of equity shares is thirty days before the shareholders' meeting called to consider the issue; for preferential issues arising from stressed-asset resolutions, the date of approval of the restructuring package or resolution plan is the relevant date. For convertible securities the relevant date is either the equity relevant date or thirty days before holders become entitled to apply for shares. If the relevant date falls on a weekend or holiday, the preceding day is reckoned as the relevant date.
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.
Relevant date for preferential issue defined as thirty days before shareholders' meeting or approval date for stressed-assets.
The relevant date for preferential issues of equity shares is thirty days before the shareholders' meeting called to consider the issue; for preferential issues arising from stressed-asset resolutions, the date of approval of the restructuring package or resolution plan is the relevant date. For convertible securities the relevant date is either the equity relevant date or thirty days before holders become entitled to apply for shares. If the relevant date falls on a weekend or holiday, the preceding day is reckoned as the relevant date.
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