August 2017

Special exemptions for rehabilitation of distressed companies

SEBI has recently amended the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 and SEBI (Issue of Capital and Disclosure Requirements) 2009, relaxing norms for acquisition of distressed companies and bringing these regulations in line with the Insolvency and Bankruptcy Code, 2016 (“IBC”). SEBI has introduced an exemption from the requirement of making an…

Constitution of Committees on FMC and CFRT

Acknowledging the dynamic nature of the securities market and the crucial role played by technology, SEBI has recently constituted committees on ‘Fair Market Conduct’ (FMC) and ‘Financial and Regulatory Technologies’ (CFRT). FMC is formed under the chairmanship of Mr T.K. Vishwanathan and aims to identify the opportunities for improvement in SEBI (Prohibition of Insider Trading)…

Actions against Directors and Promoters of Exclusively Listed Companies

Background In 2008, the Securities and Exchange Board of India (SEBI) started de-recognition of regional stock exchanges. The companies which were exclusively listed on these de-recognized stock exchanges (the Exclusively Listed Company or ELCs) were transferred to the Dissemination Board (DB) hosted by nationwide exchanges (NSE and BSE) and were given two options: (i) to list on nationwide…

© Finsec Law Advisors | 2017
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