https://www.taxtmi.com/article/detailed?id=1941 SEBI's framework allows rejection of draft offer documents where disclosures are inadequate or investor risks cannot be assessed, based on illustrative criteria covering capital structure (circular transactions, unidentifiable promoters, non compliant promoter contribution), object of the issue (vague purposes, repayment without ultimate purpose, non tangible expenditure without justification, lack of clearances, long utilisation gaps), business model exaggeration or complexity, deficiencies in financial statements (sudden spurts, qualified audits, related party dominance), material litigation concealment, incomplete or misleading filings, and unresolved conflicts of interest; rejection is discretionary and materiality based with prescribed consequences. en-us Thu, 08 Nov 2012 07:32:28 +0530 Thu, 08 Nov 2012 07:32:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1941 SEBI's framework allows rejection of draft offer documents where disclosures are inadequate or investor risks cannot be assessed, based on illustrative criteria covering capital structure (circular transactions, unidentifiable promoters, non compliant promoter contribution), object of the issue (vague purposes, repayment without ultimate purpose, non tangible expenditure without justification, lack of clearances, long utilisation gaps), business model exaggeration or complexity, deficiencies in financial statements (sudden spurts, qualified audits, related party dominance), material litigation concealment, incomplete or misleading filings, and unresolved conflicts of interest; rejection is discretionary and materiality based with prescribed consequences. Articles Corporate Laws / IBC / SEBI Thu, 08 Nov 2012 07:32:28 +0530 https://www.taxtmi.com/article/detailed?id=1941