Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2015 - SEBI/LAD-NRO/GN/2015-16/007 - SEBI
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Eligibility criteria for public and rights issues tightened; promoters' mandatory rights subscription and fund placement rules enforced. Amendments update issuer eligibility by reallocating monetary thresholds for public and rights issues, excluding sole monetary fines by exchanges from automatic ineligibility, adding three-year ineligibility for recent Board settlements, imposing mandatory promoter subscription to rights entitlements with limited renunciation, requiring no disciplinary trading suspension in the prior three years, mandating a minimum delivery-based turnover over the preceding six months, prohibiting conflicts of interest between lead merchant bankers and issuers, and prescribing that interim issue proceeds be kept only in scheduled commercial banks and certain funds in banks rated at least A by an international agency.
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.
Eligibility criteria for public and rights issues tightened; promoters' mandatory rights subscription and fund placement rules enforced.
Amendments update issuer eligibility by reallocating monetary thresholds for public and rights issues, excluding sole monetary fines by exchanges from automatic ineligibility, adding three-year ineligibility for recent Board settlements, imposing mandatory promoter subscription to rights entitlements with limited renunciation, requiring no disciplinary trading suspension in the prior three years, mandating a minimum delivery-based turnover over the preceding six months, prohibiting conflicts of interest between lead merchant bankers and issuers, and prescribing that interim issue proceeds be kept only in scheduled commercial banks and certain funds in banks rated at least A by an international agency.
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