Creation of security requires disclosure, undertaking on encumbrances, and escrow of proceeds until security documents are executed. Issuers must disclose proposals to create any charge or security in the offer document, give an undertaking that charged assets are free from encumbrances or that prior creditor consent has been obtained for second or pari pasu charges, and keep issue proceeds in an escrow account until the security creation documents described in the offer document are executed.
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.
Creation of security requires disclosure, undertaking on encumbrances, and escrow of proceeds until security documents are executed.
Issuers must disclose proposals to create any charge or security in the offer document, give an undertaking that charged assets are free from encumbrances or that prior creditor consent has been obtained for second or pari pasu charges, and keep issue proceeds in an escrow account until the security creation documents described in the offer document are executed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
