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SEBI - Under Section 81 (1A) of the Companies Act, a public company may make a preferential allotment of shares only by passing a special resolution in a general meeting. On 24 May 2011 the Ministry of Corporate Affairs has issued a new set of draft rules [Unlisted Public Companies (Preferential Allotment) Rules, 2011] to replace the Unlisted P...
Read MoreSEBI - Reservation to Holders of Convertible Debt Securities in Rights/Bonus Issues -On the issue of reservation to convertible debt holders in rights/bonus issues, it has been decided to clarify that reservation shall be available only to compulsorily convertible debt holders, since conversion in such cases is not at the option of the holders o...
Read MoreSEBI - Norms for preferential allotment of equity warrants are learnt to be back under the regulatory scanner, following complaints from institutional investors that this instrument is being misused by promoters....
Read MoreF.No. 12/13/2011-Legal - (24/05/2011) - In exercise of the powers conferred by sub Section (1-A) of Section 81 of the Companies Act 1956 read with Section 642 of the said Act, the Central Government hereby makes the following rules in supersession of unlisted Public companies (Preferential Allotment) Rules, 2003. 1. Short Title and Commen...
Read MoreNotification No. LAD-NRO/GN/2010-11/19/26456 - (12/11/2010) - The above details shall be given for a period of five years prior to date of filing of draft offer document and ought to be updated upto the date of filing of the red herring prospectus. In case of offer documents for fast track issues filed under Regulation 10, the period of five years shall be rec...
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F.No. 12/13/2011-Legal - (24/05/2011) -
Notification No. LAD-NRO/GN/2010-11/19/26456 - (12/11/2010) -
