Utilisation of rights issue funds must occur only after the basis of allotment is finalised, regulating deployment. Regulation 56 requires that an issuer may deploy funds raised through a rights issue only after the basis of allotment has been finalised, making finalisation of the allotment basis the triggering condition for lawful deployment of collected proceeds.
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.
Utilisation of rights issue funds must occur only after the basis of allotment is finalised, regulating deployment.
Regulation 56 requires that an issuer may deploy funds raised through a rights issue only after the basis of allotment has been finalised, making finalisation of the allotment basis the triggering condition for lawful deployment of collected proceeds.
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 
