Sweat equity disclosures: explanatory statement must include prescribed schedule details; promoter issuances remain subject to Regulation 6. Regulation 5 requires that the explanatory statement to the notice for the general meeting accompanying a special resolution for issue of sweat equity shares contain the disclosures specified in the Schedule to the Regulations, and it confirms that issuance of sweat equity to promoters must comply with the additional requirements set forth in Regulation 6.
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.
Sweat equity disclosures: explanatory statement must include prescribed schedule details; promoter issuances remain subject to Regulation 6.
Regulation 5 requires that the explanatory statement to the notice for the general meeting accompanying a special resolution for issue of sweat equity shares contain the disclosures specified in the Schedule to the Regulations, and it confirms that issuance of sweat equity to promoters must comply with the additional requirements set forth in Regulation 6.
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