05 June 2010
"unless firm arrangements of finance through verifiable means towards seventy five percent of the stated means of finance, excluding the amount to be raised through the proposed public issue or rights issue or through existing identifiable internal accruals, have been made."
06 June 2010
In simple words, confirmed (firm) arrangements should have been made which can be verified by SEBI. The arrangement should be for 75% of the stated financing requirements. It should not include the amount to be raised through the public/rights issue.
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