Lock-in exemption permits reduction to achieve required public shareholding, subject to amended eligibility, compliance and disclosure conditions. Regulation 112(b) now requires issuers with equity shares frequently traded for at least three years to have redressed at least ninety five per cent of investor complaints and to have complied with Listing Obligations and Disclosure Requirements for three years; temporary non compliance with board composition is deemed satisfied if cured at filing and disclosed. Promoter subscriptions above specified caps must be priced at the higher of regulation 164 price or the issue price. Regulation 115 proviso after clause (c) is omitted and regulation 167 is amended so lock in does not apply to the extent necessary to achieve required public shareholding.
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 exemption permits reduction to achieve required public shareholding, subject to amended eligibility, compliance and disclosure conditions.
Regulation 112(b) now requires issuers with equity shares frequently traded for at least three years to have redressed at least ninety five per cent of investor complaints and to have complied with Listing Obligations and Disclosure Requirements for three years; temporary non compliance with board composition is deemed satisfied if cured at filing and disclosed. Promoter subscriptions above specified caps must be priced at the higher of regulation 164 price or the issue price. Regulation 115 proviso after clause (c) is omitted and regulation 167 is amended so lock in does not apply to the extent necessary to achieve required public shareholding.
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