Corporate Updates – 25-08-2015

SEBI:

The SEBI Board met in Mumbai yesterday and took the some important decisions in the interest of the stakeholders. Some of the major decision taken in the meeting of the SEBI Board are provided hereunder. The Board approved the merger of Forward Market Commission established under the Forward Contracts Regulation Act, 1952 (FCRA) with SEBI. A Major relief is provided to the promoters and employees of the company, as exercise of Shares under ESOPs will not be considered as trading. The Board also considered the proposal to provide general exemption from the open offer obligations under SEBI(SAST) Regulations, 2011 in the cases of increase in voting rights as a result of expiry of call notice period and forfeiture of shares. Further, the Listed Companies with employee benefit Trusts existing as on the date of notification of the SBEB Regulations shall have to re-classify the shareholding of Trust as ‘non-promoter and non-public’ category and ensure compliance with the requirement of minimum public shareholding within 3 years (as against 5 years presently) from the date of notification of the SBEB Regulations.

SEBI:

SEBI notifies norms for listing of start-ups on Institutional Trading Platform through the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2015. The provisions shall apply to entities which seek listing of their specified securities exclusively on the institutional trading platform either pursuant to a public issue or otherwise. Further, in respect of the matters not specifically dealt or excluded under this Chapter, shall apply MUTATIS MUTANDIS to any listing of specified securities under this Chapter. The institutional trading platform shall be accessible to institutional investors and non-institutional investors.

Speak Your Mind

*

*