In your interest.
Online Personal Finance Magazine
No beating about the bush.
In 2005, SEBI (Securities and Exchange Board of India) plugged loopholes in the preferential allotment rules by introducing a stringent three-year lock-in and regulating the price at which preferential equity/warrants could be offered. This ended promoters’ self-enriching game of giving themselves equity at a discount and making a profit by selling existing shares. But it didn’t matter. We...