Section 87D in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
87D. Terms of Security Receipts.
(1)Any security receipt issued would be transferable only in favour of qualified buyers in terms of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.(2)Unless the terms of issue provide otherwise, the listed entity shall not select any of its listed security receipts for payments otherwise than on pro rata basis or by lot and shall promptly submit to the stock exchange(s) the details thereof.
