Mumbai: The Securities and Exchange Board of India (Sebi) has asked the promoters of listed companies to convert their entire equity holding in the dematerialised form by September 2011, failing which it will ban trading of such shares in the normal segment of the market.
“The securities of companies shall be traded in the normal segment of the exchange if and only if, the company has achieved 100 per cent of promoter’s and promoter group’s shareholding in dematerialised form latest by the quarter ended September 2011,” Sebi said in a circular.
It further said trading of shares of those companies, which do not satisfy the criteria of 100 per cent dematerialising of equity of promoters, will be allowed for trading under the ‘trade segment’ instead of ‘normal segment’.
According to the Sebi, this was being done to promote dematerialisation of securities, encourage orderly development of the securities market and improve transparency in the.....
“The securities of companies shall be traded in the normal segment of the exchange if and only if, the company has achieved 100 per cent of promoter’s and promoter group’s shareholding in dematerialised form latest by the quarter ended September 2011,” Sebi said in a circular.
It further said trading of shares of those companies, which do not satisfy the criteria of 100 per cent dematerialising of equity of promoters, will be allowed for trading under the ‘trade segment’ instead of ‘normal segment’.
According to the Sebi, this was being done to promote dematerialisation of securities, encourage orderly development of the securities market and improve transparency in the.....
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