15-Oct-2022 05:48 AM
In a particular case, a target company issued 200 lakh warrants @ ` 100 per warrant to two promoters enabling them to get a right to have equity shares at a later date by paying ` 50 crore up-front. Assume that such a preferential allotment is made as per the preferential issue guidelines of SEBI. In a takeover bid, the contention before the SEBI is whether these warrants should be treated as partly paid-up shares. (4 marks) 2014- Dec  Is this question relevant for dec 22 examination?