Standard Operating Procedure (SOP) for stock exchanges for suspension and revocation of trading of shares of listed entities for non-compliance of certain listing conditions
For non-compliance of listing conditions, exchanges have been suspending the trading of the shares of the listed companies, which affected the interest of non-promoters much more than the promoters as the exit route used to be closed for such investors after suspension of trading. Therefore, it is now decided that the exchange in case of… Read More
Tags: Company, Listing contract, Regulatory compliance, Securities & Exchange Board of India, Share (finance), Standard operating procedure, Stock exchange, Trading day
Disinvestment of 4.01% Government of India Shareholding in HCL through OFS Method; Approximate Gross Receipts would be Rs. 260 Crore.
The Cabinet Committee on Economic Affairs (CCEA), in its meeting held on 14.9.2012, had approved disinvestment of 9.59% paid up equity capital of Hindustan Copper Limited (HCL) through the Offer for Sale through Stock Exchange mechanism (OFS). The second tranche for sale of 4.01% of the share of HCL through the Offer for Sale (OFS) route was… Read More
Tags: Bombay Stock Exchange, Disinvestment, HCL, Hindustan Copper Limited, National Stock Exchange of India, Securities & Exchange Board of India, Share (finance), Stock exchange
Combination Regulations amended by the CCI
Competition Commission of India - Amendments to the Combination Regulations The Competition Commission of India (CCI) has amended the Combination Regulations with a view to further simplify the filing requirements and bring about greater certainty in the application of the Act and the Regulations. The provisions of the Competition Act, 2002 (Act) relating to regulation… Read More
Tags: Business, cci, Competition Act 2002, Competition Commission of India, Regulation, Share (finance), Suffrage, Voting Rights Act
SEBI observes Irregularities in Acquisition of Shares under SAST Regulations
Securities and Exchange Board of India (SEBI) has not observed any irregularities in acquisition of shares by promotes in open offers. However, SEBI has observed instances where promoters have acquired shares without fulfilling the obligation to make an open offer. The data regarding the total number of cases where violation of SEBI (Substantial Acquisition of… Read More
Tags: Exchange Board of India, Lok Sabha, SAST, SEBI, Securities and Exchange Board of India, Share (finance), South African Standard Time, Takeover
Takeover Regulation – Making and Withdrawing Voluntary Open Offer
INTRODUCTION Efficient and smooth functioning takeover market plays an important role in economic development of the country. Takeover market serves as a monitor for managers of a public company, who are endowed with the duty of efficient working of the company, and inefficient working of public company, will be faced with the reduction in value… Read More
Tags: City Code on Takeovers and Mergers, India, MOO, Public company, Regulation, SEBI, Securities & Exchange Board of India, Share (finance)