Regulation 78(6) of SEBI (Issue of Capital & Disclosure Requ
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 December 2010
In case of Preferential Allotment of Equity shares, the Pre-Preferential allotment shareholding of the allottees shall be locked in from the relevant date upto a period of six months from the date of Preferential Allotment.
So, my query is that whether it will be locked in from the relevant date upto a period of 6 months or whether it will be locked in from the date of Preferential Allotment?
Kindly give me the explanation.
So, my query is that whether it will be locked in from the relevant date upto a period of 6 months or whether it will be locked in from the date of Preferential Allotment?
Kindly give me the explanation.
22 December 2010
By Cumulatively Analysis of Regulation 71 and 78(6),
As per R.78(6),the Entire pre-preferential allotment Shareholding of allottees, if any shall BE LOCKED IN FROM THE RELEVANT DATE UPTO PERIOD OF OF SIX MONTHS FROM DATE OF PREFERNTIAL ALLOTMENT.
So the Shares will be Locked 30 days prior to meeting of Shareholder ("Relevant Date") upto 6 Months from Date of Preferential Allotment.
Regards
Ankit Gulgulia
As per R.78(6),the Entire pre-preferential allotment Shareholding of allottees, if any shall BE LOCKED IN FROM THE RELEVANT DATE UPTO PERIOD OF OF SIX MONTHS FROM DATE OF PREFERNTIAL ALLOTMENT.
So the Shares will be Locked 30 days prior to meeting of Shareholder ("Relevant Date") upto 6 Months from Date of Preferential Allotment.
Regards
Ankit Gulgulia
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2010
I am yet not clear with the above explanation regarding Reg 78(6) of SEBI (ICDR) Requirements, 2009. Can you pls explain with an example.
whether the shares will be locked in from the relevant date upto a period of 6 months or whether it will be locked in from the date of Preferential Allotment?
whether the shares will be locked in from the relevant date upto a period of 6 months or whether it will be locked in from the date of Preferential Allotment?
23 December 2010
Take This Date Wise Example
Facts Assumed
Date of Meeting - 31/3/2009
Rel. date (As per R.71) - 1/3/2009
Date of Preferential Allotment - 30/4/2009
6 Months from Pref. Allot - 31/10/2009
Lock In Period Will Be From :
1/3/2009 TO 31/10/2009
Regards
Ankit Gulgulia
Facts Assumed
Date of Meeting - 31/3/2009
Rel. date (As per R.71) - 1/3/2009
Date of Preferential Allotment - 30/4/2009
6 Months from Pref. Allot - 31/10/2009
Lock In Period Will Be From :
1/3/2009 TO 31/10/2009
Regards
Ankit Gulgulia
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
