Relevant date for preferential issue determines pricing reference for equity and convertible securities, with CDR exception and weekend rule. The relevant date for preferential issue of equity shares is the date thirty days prior to the shareholders' meeting to consider the issue, except where equity is issued under an approved Corporate Debt Restructuring scheme, in which case the CDR approval date is the relevant date. For convertible securities, the relevant date is either the equity relevant date or thirty days prior to the date holders become entitled to apply for equity. If the relevant date falls on a weekend or holiday, the preceding day is the relevant date.
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.
Relevant date for preferential issue determines pricing reference for equity and convertible securities, with CDR exception and weekend rule.
The relevant date for preferential issue of equity shares is the date thirty days prior to the shareholders' meeting to consider the issue, except where equity is issued under an approved Corporate Debt Restructuring scheme, in which case the CDR approval date is the relevant date. For convertible securities, the relevant date is either the equity relevant date or thirty days prior to the date holders become entitled to apply for equity. If the relevant date falls on a weekend or holiday, the preceding day is the relevant date.
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