TaxTMI 
TaxTMI 
Amendments to the SEBI (Disclosure and Investor Protection) Guidelines, 2000
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....es") came into effect from January 27, 2000. Following amendments to the Guidelines, as explained in two sections of this circular, may be noted: Section A It may be recalled that RMB (GI) series Circular No. 2 dated December 1, 1999 was not consolidated in the Guidelines. The same has now been consolidated into the Guidelines and therefore ceases to be in force with effect from the date of this circular. Certain other inconsistencies brought to our attention are being rectified. Section B In order to reduce inconvenience caused to investors applying in public/ rights issues through the depository mode, the issuer companies shall be required to enter into agreements with all the depositories. Also in order to eliminate the risks....
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.... 2. the public / rights issues, the offer documents for which are not yet filed with the Registrar of Companies/ concerned Stock Exchange (s). Please acknowledge receipt. Yours faithfully, O P Gahrotra Senior Executive Director Section A I. A Clause 4.14 (A) shall be inserted after clause 4.14 in Chapter IV of the Guidelines which shall read as follows: "4.14 (A) Lock-in of pre issue share capital of an unlisted company Where an unlisted company eligible to make a public issue and desirous of getting its securities listed on a recognised stock exchange pursuant to a public issue has issued shares to any person within six (6) months prior to the date of opening of the public issue at a price lower tha....
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....The Clause 16.1.4 (b) shall be modified and shall read as follows: " The lead merchant banker shall submit one final printed copy of the final offer document to Primary Market Department, SEBI, Head Office, within three (3) days of filing the offer document with Registrar of Companies / concerned Stock Exchange(s) as the case may be." (d) A new clause 16.1.4 (c) shall be inserted which shall read as follows "The lead merchant banker shall submit a computer floppy containing the final prospectus/ letter of offer to Primary Market Department, SEBI, Head Office, as specified in Schedule XXIII within three (3) days of filing the final prospectus/ letter of offer with the Registrar of Companies/ concerned Stock Exchange(s). Along with the flo....
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.... incorporate a statement in the offer documents that the trading in the securities shall be in dematerialised form only for all the investors. "V (a) The Clause 7.1 of Chapter VII of the Guidelines shall be deleted. (b) Following amendments shall be made to Clause 7.6 of Chapter VII (i) Clause 7.6.1 shall be replaced with the following clause "In a public issue of securities, the Executive Director/Managing Director of the Regional Stock Exchange along with the post issue Lead Merchant Banker and the Registrars to the Issue shall be responsible to ensure that the basis of allotment is finalised in a fair and proper manner in accordance with the following guidelines: Provided, in the book building portion of a book built pu....
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.... They must go through the offer documents after conversion into HTML and PDF formats thoroughly to ensure that their internal notings, additions/deletions or corrections do not appear in the final format which is submitted to SEBI. It is to be ensured that the data given in the tables is in systematic order. It is to be understood that merchant bankers are fully responsible for the contents of soft copies of the offer documents. 4. The Merchant Bankers are required to submit an undertaking to SEBI while filing the offer document certifying that the information contained in the floppy is in HTML format and matches exactly with the contents of the hard copy. 5. The floppies containing the soft copy of the offer document should have a st....