Securities And Exchange Board Of India - Subsection
Section 10(1) in Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
(1)Nothing contained in sub-regulations (1), (2) and (3) of regulation 6 and regulations 7 and 8 shall apply to a public issue or rights issue if the issuer satisfies the following conditions:(a)the equity shares of the issuer have been listed on any recognised stock exchange having nationwide trading terminals for a period of at least three years immediately preceding the reference date;(b)the average market capitalisation of public shareholding of the issuer is at least ten thousand crore rupees;(c)the annualised trading turnover of the equity shares of the issuer during six calendar months immediately preceding the month of the reference date has been at least two per cent. of the weighted average number of equity shares listed during such six months' period;(d)the issuer has redressed at least ninety five per cent. of the complaints received from the investors till the end of the quarter immediately preceding the month of the reference date;(e)the issuer has been in compliance with the equity listing agreement for a period of at least three years immediately preceding the reference date;(f)the impact of auditors' qualifications, if any, on the audited accounts of the issuer in respect of those financial years for which such accounts are disclosed in the offer document does not exceed five per cent. of the net profit or loss after tax of the issuer for the respective years;(g)no show-cause notices have been issued or prosecution proceedings initiated or pending against the issuer or its promoters or whole time directors as on the reference date;(h)the entire shareholding of the promoter group of the issuer is held in dematerialised form on the reference date.
