Securities And Exchange Board Of India - Subsection
Section 109(3) in The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
(3)Where an option is to be given to the holders of the convertible debt instruments in terms of sub-regulation (2) and if one or more of such holders do not exercise the option to convert the instruments into equity share capital at a price determined in the general meeting of the shareholders, the issuer shall redeem that part of the instruments within one month from the last date by which option is to be exercised, at a price which shall not be less than its face value.
