SEBI Unveils Rules For Reclassification Of Promoter As Public Investor

Furthermore, the promoter seeking re-classification must not be a wilful defaulter or a fugitive economic offender.
Sudha

Updated: Nov 26,2018 10:20:29 am

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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