Securities And Exchange Board Of India - Subsection
Section 73(1) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
(1)The issuer shall, in addition to the disclosures required under section 173 of the Companies Act, 1956 or any other applicable law, disclose the following in the explanatory statement to the notice for the general meeting proposed for passing special resolution:(a)the objects of the preferential issue;(b)the proposal of the promoters, directors or key management personnel of the issuer to subscribe to the offer;(c)the shareholding pattern of the issuer before and after the preferential issue;(d)the time within which the preferential issue shall be completed;(e)the identity of the proposed allottees, the percentage of post preferential issue capital that may be held by them and change in control, if any, in the issuer consequent to the preferential issue;(f)an undertaking that the issuer shall re-compute the price of the specified securities in terms of the provision of these regulations where it is required to do so;(g)an undertaking that if the amount payable on account of the re-computation of price is not paid within the time stipulated in these regulations, the specified securities shall continue to be locked- in fill the time such amount is paid by the allottees.
