Regulation 59 - Prohibition on payment of incentives
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Chapter VI GENERAL OBLIGATIONS OF ISSUER AND INTERMEDIARIES WITH RESPECT TO PUBLIC ISSUE AND RIGHTS ISSUE
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Prohibition on payment of incentives bars persons connected with an issue from offering incentive for applications, except fees or commission. Regulation 59 prohibits any person connected with a public or rights issue from offering direct or indirect incentives in cash, kind, services or otherwise to induce applications for allotment of specified securities, includes persons connected with distribution, and excepts lawful fees or commission for services rendered in relation to the 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.
Prohibition on payment of incentives bars persons connected with an issue from offering incentive for applications, except fees or commission.
Regulation 59 prohibits any person connected with a public or rights issue from offering direct or indirect incentives in cash, kind, services or otherwise to induce applications for allotment of specified securities, includes persons connected with distribution, and excepts lawful fees or commission for services rendered in relation to the issue.
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