Reservation for convertible debt holders required before rights issues; reserved shares issued on conversion on same terms as rights issue. Regulation 53 requires an issuer making a rights issue to reserve equity shares of the same class for holders of compulsorily convertible debt instruments in proportion to the convertible part; those reserved shares must be issued at the time of conversion and on the same terms as the shares offered in the rights issue.
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.
Reservation for convertible debt holders required before rights issues; reserved shares issued on conversion on same terms as rights issue.
Regulation 53 requires an issuer making a rights issue to reserve equity shares of the same class for holders of compulsorily convertible debt instruments in proportion to the convertible part; those reserved shares must be issued at the time of conversion and on the same terms as the shares offered in the rights issue.
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