Securities And Exchange Board Of India - Subsection
Section 114(1) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(1)For the computation of minimum promoters' contribution, the following specified securities shall not be eligible:(a)specified securities acquired during the preceding three years, if these are:(i)acquired for consideration other than cash and revaluation of assets or capitalisation of intangible assets is involved in such transaction; or(ii)resulting from a bonus issue by utilisation of revaluation reserves or unrealised profits of the issuer or from bonus issue against equity shares which are ineligible for minimum promoters' contribution;(b)specified securities pledged with any creditor other than those for borrowings by the issuer or its subsidiaries.
