SEBI rightly rejected preferential allotment as issuer failed to comply with minimum public shareholding requirement

COMPANY LAW : Preferential allotment can be issued by issuer company, however, before issuance of preferential allotment certain conditions are required to be complied which is mandatory as per Regulation 160 of ICDR Regulations. Regulation 160(d) provides that issuer is required to be in compliance with LODR Regulations

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