Acquisition of right shares

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..... (1) A person resident outside India may purchase equity or preference shares or convertible debentures offered on right basis by an Indian company which satisfies the conditions specified in sub-regulation (2). (2) An Indian company which satisfies the following conditions, may offer to a person resident outside India, equity or preference shares or convertible debentures on right basis, namely .....

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..... f shares of a company listed on a recognized stock exchange in India, at a price as determined by the company; (b) in the case of shares of a company not listed on a recognized stock exchange in India, at a price which is not less than the price at which the offer on right basis is made to resident shareholders.] (3) The right shares or debentures purchased by the person resident outside India .....

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..... b-Regulation 2(iii) and 2(iv) respectively vide Notification No. Supra 3. Substituted vide notification no. 205/2010-RB dated 7-4-2010, before it was read as, "2[iv) The offer on right basis to the persons resident outside India is at a price which is not lower than that at which the offer is made to resident shareholders;]" -
Statute, statutory provisions legislation, law, enactment, Act .....

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