Payment of consideration: full payment at allotment, initial deposit for warrants, balance on exercise, forfeiture if unexercised. Regulation 77 requires full payment at allotment for specified securities other than warrants, with an exception for corporate debt restructuring schemes. For warrants, an initial deposit is payable on allotment and the balance on exercise, with initial deposits forfeitable if warrants are not exercised. Cash consideration must be received from the allottee's bank account and compliance must be certified by the statutory auditor.
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.
Payment of consideration: full payment at allotment, initial deposit for warrants, balance on exercise, forfeiture if unexercised.
Regulation 77 requires full payment at allotment for specified securities other than warrants, with an exception for corporate debt restructuring schemes. For warrants, an initial deposit is payable on allotment and the balance on exercise, with initial deposits forfeitable if warrants are not exercised. Cash consideration must be received from the allottee's bank account and compliance must be certified by the statutory auditor.
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