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https://indiacorplaw.in/2013/07/marketable-securities-and-spot-delivery.html
Jul 30, 2013 · Contract (Regulation) Act, 1956 [“ SCRA ”]. There were principally two questions before the Court: (i) the applicability of the SCRA to public unlisted companies and (ii) the construction of a settlement agreement to ascertain whether a prior agreement was a ‘spot delivery contract’ as defined in section 2(i) of the SCRA.
http://arthapedia.in/index.php?title=Spot_Contracts_/_Markets
SCRA separately defines a “spot delivery contract” with respect to securities in its Section 2(i) as a contract which provides for,— (a) actual delivery of securities and the payment of a price therefor either on the same day as the date of the contract or on the next day, (the actual period taken for the dispatch of the securities or the remittance of money therefore through the post is excluded from the …
http://finseclaw.com/service/spot-delivery-contracts-and-applicability-of-the-securities-contracts-regulation-act-1956-to-public-unlisted-companies/
Home Spot Delivery Contracts and Applicability of the Securities Contracts Regulation Act, 1956 to Public Unlisted Companies Courts have been divided in their views on the applicability of the Securities Contract (Regulations) Act, 1956 to transactions involving shares of unlisted public companies.
https://www.sebi.gov.in/acts/contractact.pdf
“(i) 'spot delivery contract' means a contract which provides for the actual delivery of securities and the payment of a price therefore either on the same day as the date of the contract or on the next day, the actual period taken for the despatch of the securities or the …
https://blog.ipleaders.in/option-contract/
Spot delivery contracts are those contracts in which the parties entered transfers money and share on the same day of contract. Therefore, according to SEBI, privately contracted options breach the SCRA provisions and also suggested that other than spot delivery, all other options are species of ‘deliveries’ which are not recognised under SCRA.Author: Anubhav Pandey
http://www.legalserviceindia.com/article/l314-Shareholders-Agreement.html
Since sale of shares by one shareholder to another shareholder through a depository amounts to a spot delivery contract, if an arrangement is made where the sale of the shares in the event of exercise of a put option by the investor is routed in a demat form through a depository the exercise put option would not be violative of SCRA.
https://www.cse-india.com/upload/site_link/Guidance%20Note%20on%20Illegal%20Trading.pdf
Aspot delivery contract as defined in Section 2(i) of SCRA means a contract which provides for actual delivery of securities and the payment of a price, therefore, either on the same day as the date of the contract or on the next day.
https://www.mondaq.com/india/CorporateCommercial-Law/803514/Bombay-High-Court-Settles-Dust-Over-Validity-Of-Options39-Under-Securities-Law
It has been more than 60 years since SCRA came into force, but the dust over spot delivery contracts has not settled till the present day. The present judgment is commendable as it gives hope that these issues are now meeting their rightful end, which at the same time, may be a little late in coming.Author: Mohammad Kamran
https://www.mondaq.com/india/CorporateCommercial-Law/488800/Option-Contracts-Enforceability-Issues
SEBI has historically objected to options as being in contravention to Securities Contracts (Regulation) Act, 1956 ("SCRA") which permitted only spot delivery contracts. Initially, the Government vide its notification dated June 27, 1961 exempted specified contracts for pre-emption or similar rights contained in the promotion or collaboration agreements or in the articles of association of limited companies.
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