Preferential issue( lock in of securities)

Sir please explain regulation 167(1). I am confused because it is written 20% of total capital cannot be locked in for 18m. For eg promoter ne pref issue me share liye but uski total capital mai already 20% share locked in hai. Toh usne jo pref issue mai share liye usme 20% pe bhi 6m ka lock in aaega

It means, the securities allotted to promoters should be locked in for 18 months, But maximum 20% of the total capital shall be locked in for 18 months. Shares allotted above 20% shall be locked in for 6 months.

Answer given by Shubhamm Sir at 25-Apr-2023 07:42 PM