Completion of prescribed transactions now qualifies as an equivalent trigger to conversion for convertible instruments under the proviso. The amendment adds the phrase or completion of such transactions as may be prescribed immediately after the words referring to instruments convertible ... Summary
Completion of prescribed transactions now qualifies as an equivalent trigger to conversion for convertible instruments under the proviso.
The amendment adds the phrase or completion of such transactions as may be prescribed immediately after the words referring to instruments convertible into equity shares, thereby expanding the recognized triggers and delegating specification of qualifying transactions to subordinate prescription.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.