https://www.taxtmi.com/notifications?id=133258 Regulation 164A mandates that preferential allotments for frequently traded shares in companies with stressed assets be priced at not less than the average weekly high low VWAP over the two weeks preceding the relevant date. Allotment is allowed only if the issuer meets any two of three stress indicators (continuing payment default of specified debts, an inter creditor agreement under the RBI framework, or a downgrade to default). The rule requires non promoter allottees subject to exclusion categories, shareholder voting thresholds, prohibition on using proceeds to repay promoter loans, external monitoring of proceeds with quarterly reporting, audit committee oversight, a lock in on allotted shares, and certification by the statutory auditor and audit committee at notice and allotment. en-us Mon, 22 Jun 2020 00:00:00 +0530 Tue, 23 Jun 2020 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=133258 Regulation 164A mandates that preferential allotments for frequently traded shares in companies with stressed assets be priced at not less than the average weekly high low VWAP over the two weeks preceding the relevant date. Allotment is allowed only if the issuer meets any two of three stress indicators (continuing payment default of specified debts, an inter creditor agreement under the RBI framework, or a downgrade to default). The rule requires non promoter allottees subject to exclusion categories, shareholder voting thresholds, prohibition on using proceeds to repay promoter loans, external monitoring of proceeds with quarterly reporting, audit committee oversight, a lock in on allotted shares, and certification by the statutory auditor and audit committee at notice and allotment. Notifications SEBI Mon, 22 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/notifications?id=133258