Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Chapter XA RIGHTS ISSUE OF INDIAN DEPOSITORY RECEIPTS
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Renunciation rights in IDR rights offerings must allow transfer to another person and be disclosed in the offer. Regulation 106C provides that a rights offering of Indian Depository Receipts shall, unless the issuer's home jurisdiction law otherwise provides, include a renunciation right permitting an IDR holder to renounce the IDRs in favour of another person, subject to applicable laws, and such renunciation must be disclosed in the offer document.
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.
Renunciation rights in IDR rights offerings must allow transfer to another person and be disclosed in the offer.
Regulation 106C provides that a rights offering of Indian Depository Receipts shall, unless the issuer's home jurisdiction law otherwise provides, include a renunciation right permitting an IDR holder to renounce the IDRs in favour of another person, subject to applicable laws, and such renunciation must be disclosed in the offer document.
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