Unless  otherwise  specified, nothing  contained in  sub-regulations  (1),  (2),  (4)  and  (5)  of regulation 71 shall apply if the issuer satisfies the following conditions for making a rights issue through the fast track route-

a)      the equity shares of the issuer have been listed on any stock exchange for a period of at least three years immediately preceding the reference date;

b)      the entire  shareholding  of  the  promoter  group  of  the  issuer  is  held  in  dematerialised  form  on the reference date;

c)      the average  market  capitalisation  of  public  shareholding  of  the  issuer  is  at  least  two  hundred and fifty crore rupees;

d)      the annualised  trading  turnover  of  the  equity  shares  of  the  issuer  during  six  calendar  months immediately  preceding  the  month  of  the  reference  date  has  been  at  least  two  per  cent.  of  the weighted average number of equity shares listed during such six months‘ period: Provided that for issuers, whose public shareholding is less than fifteen per cent. of its issued equity  capital,  the  annualised  trading  turnover  of  its  equity  shares  has  been  at  least  two  percent.  of  the  weighted  average  number  of  equity  shares  available  as  free  float  during  such  six months‘ period;

e)      the annualized delivery-based trading turnover of the equity shares during six calendar months immediately  preceding  the  month  of  the  reference  date  has  been  at  least  ten  per  cent.  of  the annualized trading turnover of equity shares during such six months‘ period;

f)       the issuer  has  been  in  compliance  with  the  equity  listing  agreement  or  the  Securities  and Exchange  Board  of  India  (Listing  Obligations and  Disclosure  Requirements)  Regulations, 2015,  as  applicable,  for  a  period  of  at  least  three  years  immediately  preceding  the  reference date:

g)      the issuer  has  redressed  at  least  ninety  five  per  cent.  of  the  complaints  received  from  the investors till the end of the quarter immediately preceding the month of the reference date;

h)     that no show-cause notices have been issued or prosecution proceedings have been initiated by the  Board  and  pending  against  the  issuer or  its  promoters  or  whole-time  directors  as  on  the reference date;

i)       the issuer or promoter or promoter  group or director of the issuer has not  settled any  alleged violation  of  securities  laws  through  the  consent  or  settlement  mechanism  with  the  Board during three years immediately preceding the reference date;

j)       the equity shares of the issuer have not been suspended from trading as a disciplinary measure during last three years immediately preceding the reference date;

k)      there  shall  be  no  conflict  of  interest between  the  lead  manager(s)  and  the  issuer  or  its  group companies  in accordance with the applicable regulations.

l)       The promoters  and  promoter  group  shall  mandatorily  subscribe  to  their  rights  entitlement  and shall not renounce their rights, except to the extent of renunciation within the promoter group or  for  the  purpose  of  complying  with  minimum  public  shareholding  norms  prescribed  under the Securities Contracts (Regulation) Rules, 1957;

m)   there  are  no  audit  qualifications  on  the  audited  accounts  of  the  issuer  in  respect  of  those financial years for which such accounts are disclosed in the letter of offer

Unless otherwise specified, nothing contained in sub-regulations (1), (2), (4) and (5)  of  the  Regulation  71  shall  apply  if  the  issuer  satisfies  the  conditions mentioned under Regulation99of ICDR Regulations for making a rights issue through the fast track route. Certain   temporary   relaxations   with   respect   to Regulation   99   of   ICDR Regulations are extended as follows:

a)      the equity shares of the issuer have been listed on any stock exchange for a period of at least eighteen months immediately preceding the reference date;

b)      the entire  shareholding  of  the  promoter  group  of  the  issuer  is  held  in  dematerialised  form  on the reference date;

c)      the average  market  capitalisation  of  public  shareholding  of  the  issuer  is  at  least  one hundred crore rupees;

d)      the annualised  trading  turnover  of  the  equity  shares  of  the  issuer  during  six  calendar  months immediately  preceding  the  month  of  the  reference  date  has  been  at  least  two  per  cent.  of  the weighted average number of equity shares listed during such six months‘ period: Provided thatfor issuers, whose public shareholding is less than fifteen per cent. of its issued equity  capital,  the  annualised  trading  turnover  of  its  equity  shares  has  been  at  least  two  percent.  of  the  weighted  average  number  of  equity  shares  available  as  free  float  during  such  six months‘ period;

e)      the annualized delivery-based trading turnover of the equity shares during six calendar months immediately  preceding  the  month  of  the  reference  date  has  been  at  least  ten  per  cent.  of  the annualized trading turnover of equity shares during such six months‘ period;

f)       the issuer  has  been  in  compliance  with  the  equity  listing  agreement  or  the  Securities  and Exchange  Board  of  India  (Listing  Obligations and  Disclosure  Requirements)  Regulations, 2015,  as  applicable,  for  a  period  of  at  least  eighteen months immediately  preceding  the  reference date:

g)      the issuer  has  redressed  at  least  ninety  five  per  cent.  of  the  complaints  received  from  the investors till the end of the quarter immediately preceding the month of the reference date;

h)     no show-cause notices, excluding under adjudication proceedings, have been issued by the Board and pending against the issuer or its promoters or whole-time directors as on the reference date;

In  cases where against  the  issuer  or  its  promoters/  directors/  group companies,

i)                 A show  cause  notice(s) has  been  issued by  the  Board in  an adjudication proceeding or

ii)                prosecution proceedings have been initiated by the Board; necessary disclosures in respect of such action (s) along-with its potential adverse impact on the issuer shall be made in the letter of offer.

i)       the issuer or promoter or promoter group or  director  of  the  issuer  has fulfilled the  settlement  terms  or  adhered  to directions  of  the  settlement  order(s)  in  cases  where  it has  settled  any alleged  violation  of  securities  laws  through  the  consent  or  settlement mechanism with the Board

j)       the equity shares of the issuer have not been suspended from trading as a disciplinary measure during last eighteen months immediately preceding the reference date;

k)      there  shall  be  no  conflict  of  interest between  the  lead  manager(s)  and  the  issuer  or  its  group companies  in accordance with the applicable regulations.

l)       The promoters  and  promoter  group  shall  mandatorily  subscribe  to  their  rights  entitlement  and shall not renounce their rights, except to the extent of renunciation within the promoter group or  for  the  purpose  of  complying  with  minimum  public  shareholding  norms  prescribed  under the Securities Contracts (Regulation) Rules, 1957;

m)   For  audit  qualifications,  if  any,  in respect of any of the financial years for which accounts are disclosed in the letter  of  offer,  the  issuer  shall  provide  the restated  financial  statements adjusting for the impact of the audit qualifications. Further, that for the qualifications wherein impact on the financials cannot be  ascertained  the  same  shall  be  disclosed  appropriately  in  the  letter  of offer.

(1)  The minimum subscription to be received in the issue shall be at least ninety per cent. of the offer through the offer document.

(2)  In  the  event  of  non-receipt  of  minimum  subscription  referred  to  in  sub-regulation  (1),  all application monies received shall be refunded to the applicants forthwith, but not later than fifteen days from the closure of the issue.

(1) The minimum subscription to be received in the issue shall be at least seventy-five per cent of the offer through the offer document. Provided  that  if  the  issue  is  subscribed  between  75%  to  90%,  issue  will  be considered   successful   subject   to   the   condition   that   out   of   the   funds raisedatleast75% of the issue size shall be utilized for the objects of the issue other than general corporate purpose.

(2)  In  the  event  of  non-receipt  of  minimum  subscription  referred  to  in  sub-regulation  (1),  all application monies received shall be refunded to the applicants forthwith, but not later than fifteen days from the closure of the issue.

(b)    a rights issue by a listed issuer; where the aggregate value of the issue is ten crore rupees or more;

(b)    a rights issue by a listed issuer; where the aggregate value of the issue is twenty-five crores rupees or more;