SEBI Unveils Rules For Reclassification Of Promoter As Public Investor

Last Updated: November 26, 2018

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SEBI Unveils Rules For Reclassification Of Promoter As Public Investor
26 November 2018 Current Affairs: Markets regulator Security and Exchange Board of India (SEBI) has come out with new rules for re-classification of a promoter as a public investor, wherein an outgoing promoter over the affairs of the listed firm and not be allowed to hold over 10% stake.
The promoter would not be allowed to have any representation on the board of directors or act as a key managerial person in the listed entity.

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