Death Warrant for Share Warrants

The recent set of amendments effected by the Securities and Exchange Board of India to the SEBI (Disclosure and Investor Protection) Guidelines, 2000 (“DIP Guidelines”) in terms of a circular dated August 28, 2008 (“SEBI Circular”) contains an unexpected surprise. The SEBI Circular 2(vi) states:- “Presently, as per the guidelines on preferential allotment, warrants issued on preferential basis...

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