SEBI has issued consultative paper on revision of provisions pertaining to re-classification of shareholders.
Based on representations received by SEBI, discussions with stakeholders, etc., it was felt that there is a need to re-visit the existing Regulation 31A of the SEBI LODR Regulations, with an aim to simplify, streamline and bring greater clarity in the provisions specified therein. Further, the Kotak Committee has also brought out that the SEBI LODR Regulations do not deal with a situation where there are multiple and distinct parties classified as promoters, and one of them wishes to be reclassified. Comments on the above framework may be sent on or before 16/08/2018 in the prescribed format
Based on representations received by SEBI, discussions with stakeholders, etc., it was felt that there is a need to re-visit the existing Regulation 31A of the SEBI LODR Regulations, with an aim to simplify, streamline and bring greater clarity in the provisions specified therein. Further, the Kotak Committee has also brought out that the SEBI LODR Regulations do not deal with a situation where there are multiple and distinct parties classified as promoters, and one of them wishes to be reclassified. Comments on the above framework may be sent on or before 16/08/2018 in the prescribed format
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