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TMI BlogGeneral conditionsX X X X Extracts X X X X X X X X Extracts X X X X ..... he conditions of this Chapter at the time of filing draft offer document with the Board (unless stated otherwise in this Chapter) and at the time of registering or filing the final offer document with the Registrar of Companies or designated stock exchange, as the case may be. (2) No issuer shall make a public issue or rights issue of specified securities: (a) if the issuer, any of its promoters ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls; (e) unless it has entered into an agreement with a depository for dematerialisation of specified securities already issued or proposed to be issued; (f) unless all existing partly paid-up equity shares of the issuer have either been fully paid up or forfeited; (g) unless firm arrangements of finance through verifiable means towards seventy five per cent. of the stated means of finance, excl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h warrant shall be forfeited by the issuer.] 6[(4) The amount for general corporate purposes, as mentioned in objects of the issue in the draft offer document filed with the Board, shall not exceed twenty five per cent of the amount raised by the issuer by issuance of specified securities.] 7[(5) No issuer shall make, (a) a public issue of equity securities, if the issuer or any of its promoter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... extent of renunciation within the promoter group.] ******* 1 Clause (c) omitted by SEBI (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2016, w.e.f. 25.05.2016. Prior to its omission, clause (c) read as under: "(c) if the issuer of convertible debt instruments is in the list of wilful defaulters published by the Reserve Bank of India or it is in default of payment ..... X X X X Extracts X X X X X X X X Extracts X X X X
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