1. If there are joint holders then Right issue application is sent only to First hold?
2. If the answer is yes for the above, then can he renounce it in favour of second or third holder, in turn that person will acquire the renounced shares on his own name?
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Right Issue to joint holders
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yes, if the first holder is not in a position or not signify his willingness to take the shares, he/she may renounce the right in favour of that individual second or third joint holder
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