Tenure limit for convertible securities restricts permitted duration under qualified institutions placement to a fixed maximum. The permissible tenure for convertible or exchangeable eligible securities issued through the qualified institutions placement route is measured from the date of allotment and is capped at sixty months, imposing a definitive temporal constraint on their conversion or exchange window and creating a clear compliance requirement for issuers and market participants.
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.
Tenure limit for convertible securities restricts permitted duration under qualified institutions placement to a fixed maximum.
The permissible tenure for convertible or exchangeable eligible securities issued through the qualified institutions placement route is measured from the date of allotment and is capped at sixty months, imposing a definitive temporal constraint on their conversion or exchange window and creating a clear compliance requirement for issuers and market participants.
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