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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