https://www.taxtmi.com/acts?id=38900 Preferential issues by companies with stressed assets must meet a minimum price based on the volume weighted average traded price, and are allowed only if the issuer meets any two of three stressed asset criteria: disclosed continuing payment defaults, an inter creditor agreement under the RBI framework, or downgrade of credit instruments to default. Allottees must be non promoters and comply with specified exclusion categories. Proceeds cannot repay promoter/group loans, must be monitored by a registered credit rating monitoring agency and the audit committee with quarterly public reporting, and allotments are locked in for three years; auditors and the audit committee must certify compliance at notice and allotment. en-us Tue, 23 Jun 2020 12:40:15 +0530 Sat, 10 Aug 2024 12:05:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=38900 Preferential issues by companies with stressed assets must meet a minimum price based on the volume weighted average traded price, and are allowed only if the issuer meets any two of three stressed asset criteria: disclosed continuing payment defaults, an inter creditor agreement under the RBI framework, or downgrade of credit instruments to default. Allottees must be non promoters and comply with specified exclusion categories. Proceeds cannot repay promoter/group loans, must be monitored by a registered credit rating monitoring agency and the audit committee with quarterly public reporting, and allotments are locked in for three years; auditors and the audit committee must certify compliance at notice and allotment. Act-Rules SEBI Tue, 23 Jun 2020 12:40:15 +0530 https://www.taxtmi.com/acts?id=38900