Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2020

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....sclosure Requirements) Regulations, 2018, namely:- 1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018,- I. After regulation 164 the following new regulation shall be inserted, namely, - "Pricing in preferential issue of shares of companies having stressed assets 164A. (1) In case of frequently traded shares, the price of the equity shares to be allotted pursuant to the preferential issue shall not....

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....ssue shall not be made to the following entities: (i) undischarged insolvent in terms of the Insolvency and Bankruptcy Code, 2016; (ii) "wilful defaulter‟ as per the guidelines of the Reserve Bank of India issued under the Banking Regulation Act, 1949; (iii) a person disqualified to act as a director under the Companies Act, 2013; (iv) a person debarred from trading in securities or accessing the securities market by the Board; Explanation: The restriction under (iv) shall not apply to the persons or entities mentioned therein who were debarred in the past by the Board and the period of debarment is already over as on the date of the board meeting considering the preferential issue. ....

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....oter group/ group companies. The proposed use of proceeds shall be disclosed in the explanatory statement sent for the purpose of the shareholder resolution. (6) a) The issuer shall make arrangements for monitoring the use of proceeds of the issue by a public financial institution or by a scheduled commercial bank, which is not a related party to the issuer: (i) The monitoring agency shall submit its report to the issuer in the format specified in terms of Schedule XI (with fields as applicable) on a quarterly basis until atleast ninety five percent of the proceeds of the issue have been utilized. (ii) The board of directors and the management of the issuer shall provide their comments on the findings of the monit....

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....57. (b) March 29, 2019 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2019, vide notification No.SEBI/LAD-NRO/ GN/ 2019/05. (c) April 5, 2019 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2019, vide notification No. SEBI/LAD NRO/GN/ 2019/08. (d) July 29, 2019 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2019, vide notification No. SEBI/LAD-NRO/GN/ 2019/29. (e) September 23, 2019 by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Am....