The Unlisted Public Companies (Preferential Allotment) Rules, 2003 - G.S.R. 922(E)

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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.

<h1>Preferential allotment rules require a special resolution and prescribed disclosures for unlisted public companies' equity and convertible instruments.</h1> The Rules regulate preferential allotment by unlisted public companies for equity and convertible instruments, defining 'promoter' and 'control'; requiring articles authorization and a special resolution acted upon within twelve months; mandating advance pricing for shares underlying warrants; specifying detailed disclosures in the explanatory statement including price, relevant date, objects, classes of allottees, promoters' subscription intention, shareholding pattern, timing and change in control; and requiring a statutory auditor or practicing company secretary certificate of compliance to be placed before the shareholders' meeting.

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