Section 79 in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
79. Transferability of locked-in specified securities and warrants issued on preferential basis.
- Subject to the provisions of Securities and Exchange Board of India (Substantial Acquisition of shares and Takeovers) Regulations, 1997, specified securities held by promoters and locked-in in terms of sub-regulation (1) of regulation 78 may be transferred among promoters or promoter group or to a new promoter or persons in control of the issuer:Provided that lock-in on such specified securities shall continue for the remaining period with the transferee.
