Lock-in transfer of securities: transfers allowed among locked-in holders and promoters subject to continued lock-in and takeover compliance. Amendments permit inter-se transfers of locked-in securities among similarly locked-in holders and among promoters or to new promoters/persons in control, subject to continuation of lock-in for the remaining period and compliance with substantial acquisition and takeover regulations. The draft and final offer documents must be board-approved and signed by all directors, CEO and CFO certifying accuracy of disclosures. Offer documents must disclose specified financial metrics (three-year EPS, P/E, return on net worth, NAV before and after issue) and compare them with industry averages and peer group, with projected earnings prohibited as justification for issue price.
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 transfer of securities: transfers allowed among locked-in holders and promoters subject to continued lock-in and takeover compliance.
Amendments permit inter-se transfers of locked-in securities among similarly locked-in holders and among promoters or to new promoters/persons in control, subject to continuation of lock-in for the remaining period and compliance with substantial acquisition and takeover regulations. The draft and final offer documents must be board-approved and signed by all directors, CEO and CFO certifying accuracy of disclosures. Offer documents must disclose specified financial metrics (three-year EPS, P/E, return on net worth, NAV before and after issue) and compare them with industry averages and peer group, with projected earnings prohibited as justification for issue price.
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