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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
