Lock-in of specified securities held by the promoters

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....held by the promoters shall not be transferable (hereinafter referred to as 'lock-in') for the periods as stipulated hereunder: a) minimum promoters' contribution including contribution made by alternative investment funds or foreign venture capital investors or scheduled commercial banks or public financial institutions or insurance companies registered with Insurance Regulatory and Deve....

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....xcess of minimum promoters' contribution shall be locked in for a period of one year from the date of allotment in the initial public offer.] Explanation: For the purposes of this clause, the expression "date of commencement of commercial production" means the last date of the month in which commercial production of the project in respect of which the funds raised are proposed to be utilised as....