SEBI comes up with consultation paper on re-classification of promoter group entities

The Market Regulator, SEBI has come up with consultative paper on re-classification of promoter/ promoter group entities and disclosure of the promoter group entities in the shareholding pattern. As a result, listed entities shall make an application to Stock Exchanges for re-classification of any person as promoter and listed entities shall require to follow the specified procedure not later than 30 days from the date of approval.The Market Regulator, SEBI has come up with consultative paper on re-classification of promoter/ promoter group entities and disclosure of the promoter group entities in the shareholding pattern. As a result, listed entities shall make an application to Stock Exchanges for re-classification of any person as promoter and listed entities shall require to follow the specified procedure not later than 30 days from the date of approval.taxmann.com NewsRead More

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