Prospectus ‑ Shares reserved for subscription on firm allotment basis ‑ Whether excluded in arriving at number of shares offered to public for subscription
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Public offer size disclosure must exclude shares reserved on firm allotment to prevent misleading investors. Inclusion of shares reserved on a firm allotment basis in the number of shares stated as offered to the public risks confusing or misleading investors; companies must exclude such reserved shares when calculating and disclosing the public offer size, because mere revision after prior announcements may not remedy the misinformation and would impose additional corrective publicity and reissue costs.
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.
Public offer size disclosure must exclude shares reserved on firm allotment to prevent misleading investors.
Inclusion of shares reserved on a firm allotment basis in the number of shares stated as offered to the public risks confusing or misleading investors; companies must exclude such reserved shares when calculating and disclosing the public offer size, because mere revision after prior announcements may not remedy the misinformation and would impose additional corrective publicity and reissue costs.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.