(Disclosure and Investor Protection) Guidelines, 2000 (Updated till May 8, 2006)

SEBI/CFD/DIL/DIP/13/2004/28/5 · 2006-05-08 · SEBI

Summary

This part establishes the short title, commencement date, and legal authority of the SEBI (Disclosure and Investor Protection) Guidelines, 2000. It defines key terms such as 'Abridged Prospectus', 'Board', 'Book Building', and 'Company' to ensure consistent interpretation throughout the document. Specific definitions for 'Designated Stock Exchange' and 'Employee' are included to clarify eligibility and participation criteria for securities issues. This section defines key terms used in the guidelines, including entities like issuers and investors, as well as transaction types such as public issues and preferential allotments. It establishes that undefined terms derive their meanings from relevant Acts or Regulations. The guidelines apply to various securities offerings by listed and unlisted companies, with specific exemptions for small rights issues. This part establishes eligibility norms for companies issuing securities, specifically focusing on the filing of offer documents and prohibitions. It mandates that public issues require a draft prospectus filed with SEBI at least 21 days prior to ROC filing, subject to potential board-specified changes. Additionally, it outlines speci

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These Guidelines have been issued by the Securities and Exchange Board of India under Section 11 of the Securities and Exchange Board of India Act, 1992. These Guidelines may be called the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000. These Guidelines shall come into force from the date specified by the Board.

“Abridged Letter of Offer” in relation to a rights issue means the abridged form of a letter of offer which satisfies the minimum requirements laid down in Section IV of Chapter VI of the Guidelines).

“Abridged Prospectus” means the memorandum as prescribed in Form 2A under Sub-section (3) of Section 56 of the Companies Act, 1956;

“Act” means the Securities and Exchange Board of India Act, 1992 (15 of 1992);

“Advertisement” includes notices, brochures, pamphlets , circulars, show cards, catalogues, hoardings, placards , posters, insertions in newspaper, pictures, films, cover pages of offer documents or any other print medium, radio, television programmes through any electronic medium;

“Board” means the Securities and Exchange Board of India established under provisions of Section 3 of the Act;

“Book Building” means a process undertaken by which a demand for the securities proposed to be issued by a body corporate is elicited and built up and the price for such securities is assessed for the determination of the quantum of such securities to be issued by means of a notice, circular, advertisement, document or information memoranda or offer document;

“Collection Centre” means a place where the application for subscribing to the public or rights issue is collected by the Banker to an Issue on behalf of the issuer company;

“Company” means the Company defined in Section 3 of the Companies Act, 1956;

“Composite Issues” means an issue of securities by a listed company on a public cum rights basis offered through a single offer document wherein the allotment for both public and rights components of the issue is proposed to be made simultaneously;

“Credit Rating Agency” means a body corporate registered under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999;

“Designated Financial Institution” means the public financial institution included in or notified under Section 4A of the Companies Act, Industrial Development Corporation established by State Governments and financial institutions approved under Section 36(1)(viii) of Income Tax Act, 1961;

Source: SecMarx — (Disclosure and Investor Protection) Guidelines, 2000 (Updated till May 8, 2006). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.