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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>SEBI Regulation 163: Issuers Must Disclose Key Details in Explanatory Statements for Special Resolutions on Capital Issues.</h1> Regulation 163 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 mandates issuers to disclose specific information in the explanatory statement for a general meeting proposing a special resolution. This includes the objectives of the preferential issue, the maximum number of securities to be issued, and the intentions of key personnel to subscribe. It also requires details on the shareholding pattern before and after the issue, the timeframe for completion, and the identity of ultimate beneficial owners. Additional undertakings include price re-computation and disclosure of any willful defaulters. A certificate from a practicing company secretary must be presented at the meeting.
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