Securities And Exchange Board Of India - Subsection
Section 158(1) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(1)The provisions of this Chapter shall not apply where the preferential issue of equity shares is made pursuant to:(a)conversion of a loan or an option attached to convertible debt instruments in terms of sub-sections (3) and (4) of sections 81 of the Companies Act, 1956 or sub-section (3) and (4) of section 62 of the Companies Act, 2013, whichever is applicable;(b)a scheme approved by a High Court under section 391 to 394 of the Companies Act, 1956 or approved by a tribunal or the Central Government under sections 230 to 234 of the Companies Act, 2013, as applicable;Provided that the pricing provisions of this Chapter shall apply to the issuance of shares under schemes mentioned in clause (b) in case of allotment of shares only to a select group of shareholders or shareholders of unlisted companies pursuant to such schemes;(c)a qualified institutions placement in accordance with Chapter VI of these regulations.
