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Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Chapter XB ISSUE OF SPECIFIED SECURITIES BY SMALL AND MEDIUM ENTERPRISES
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Migration to Main Board requires shareholder special resolution and in principle main board approval before further capital issues. Migration to the Main Board is permitted or required only if the issuer meets Main Board listing eligibility and shareholders approve a special resolution by postal ballot, with votes cast by shareholders other than promoters in favour amounting to at least two times those cast by such shareholders against. If a further issue would raise post-issue capital beyond the SME band, migration and Main Board listing of proposed securities must occur and no such issue may proceed without the same shareholder special resolution and in principle Main Board approval.
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.
Migration to Main Board requires shareholder special resolution and in principle main board approval before further capital issues.
Migration to the Main Board is permitted or required only if the issuer meets Main Board listing eligibility and shareholders approve a special resolution by postal ballot, with votes cast by shareholders other than promoters in favour amounting to at least two times those cast by such shareholders against. If a further issue would raise post-issue capital beyond the SME band, migration and Main Board listing of proposed securities must occur and no such issue may proceed without the same shareholder special resolution and in principle Main Board approval.
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