CAIRR Update 08 Aug, 2019

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CAIRR Update 08 Aug, 2019

Summary of Circular issued by SEBI under SEBI (SAST) Regulations, 2011 dated 07/08/2019 is listed below:

  1. Circular on Disclosure of reasons for encumbrance by promoter of listed companies w.e.f., 01/10/2019:

To bring in more transparency, SEBI directs the Promoters of every listed company to specifically disclose within 2 working days the detailed reasons for encumbrance of shares if the combined value of encumbrance by the promoter along with Persons Acting in Concert (PACs) with them equals or exceeds:

a) 50% of their shareholding in the company; or

b) 20% of the total share capital of the company.

The format for this disclosure is prescribed in this Circular. This disclosure shall be made to:

a) every stock exchange where shares are of the company are listed; and

b) the listed company;

Further every listed company shall disclose this information on their websites within two working days of receipt of such disclosure. Read more…

By | 2019-08-08T11:46:32+00:00 August 8th, 2019||0 Comments

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