Lock-in requirement for specified securities restricts transferability of preferential allotments, with extended periods for promoters and shorter terms for others. The regulation imposes lock-in periods on specified securities allotted preferentially and on shares from exercise or conversion, differentiating extended lock-in for promoters/promoter group and shorter lock-in for other allottees, measured from trading approval. It caps promoter lock-in coverage for a portion of total capital, treats excess allotment under a shorter restriction, reduces lock-in for shares converted from already locked convertible securities, provides special treatment for securities issued under corporate debt restructuring and partly paid shares, requires continued lock-in where price recalculation obligations remain unpaid, and locks pre-preferential shareholding for a limited post-approval period.
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.
Lock-in requirement for specified securities restricts transferability of preferential allotments, with extended periods for promoters and shorter terms for others.
The regulation imposes lock-in periods on specified securities allotted preferentially and on shares from exercise or conversion, differentiating extended lock-in for promoters/promoter group and shorter lock-in for other allottees, measured from trading approval. It caps promoter lock-in coverage for a portion of total capital, treats excess allotment under a shorter restriction, reduces lock-in for shares converted from already locked convertible securities, provides special treatment for securities issued under corporate debt restructuring and partly paid shares, requires continued lock-in where price recalculation obligations remain unpaid, and locks pre-preferential shareholding for a limited post-approval period.
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