Skip to main content

NEW INSIDERS TRADING NORMS, NEW LISTING REGULATIONS and AMENDMENT IN DELISTING NORMS

NEW INSIDERS TRADING NORMS:
The SEBI has recently replaced almost two decade old SEBI (Prohibition of Insider Trading) Regulations, 1992 with a new regulation in place of existing regulation.
The new regulations put in place and strengthen the legal and enforcement framework, align Indian regime with international practices, provide clarity with respect to the definitions and concepts, and facilitate legitimate business transactions. The details are available on the website of SEBI.
NEW LISTING REGULATIONS:
On 19th November 2014, SEBI has come out SEBI (Listing Obligations & Disclosure Requirements) Regulations 2014, with comprehensive listing regulations to consolidate listing obligations and disclosure requirements for listed entities across all the below mentioned securities at one place. This would also facilitate better compliance and investor protection.
This Regulation would consolidate and streamline the provisions of existing listing agreements thereby ensuring better enforceability.
AMENDMENT IN DELISTING NORMS:
The following changes have been made to SEBI (Delisting of Equity Shares) Regulations, 2009:
1. The delisting shall be considered successful only when
a. the shareholding of the acquirer together with the shares tendered by public shareholders reaches 90% of the total share capital of the company and
b. if atleast 25% of the number of public shareholders, holding shares in dematerialised mode as on the date of the Board meeting which approves the delisting proposal, tender in the reverse book building process.
2. The offer price determined through Reverse Book Building shall be the price at which the shareholding of the promoter, after including the shareholding of the public shareholders who have tendered their shares, reaches the threshold limit of 90%.

Comments

Post a Comment

Popular posts from this blog

Rio Olympics - Sports in India

Rio Olympics - Sports in India INTRODUCTION: Sport is regarded as one of the largest industry globally in terms of employment and revenue. The Business of Sports is a multi-billion dollar global industry propelled by enormous consumer demand. The sports business means many different things to different people. This is a truly global industry, and sports stir up deep passion within spectators and players alike in countries around the world. Sports, a field in which players and champion of every state come together to make their career in it and fulfill their aspirations, their family aspirations, their society’s aspirations, their state aspirations and their nation’s aspirations. It is said that passion can lead man to success. People are now looking at sport business as a career which ten years ago was not an option. Of course, the real and inherent vision of sport remains physical activity and a substitute for war. Yes, you heard it correctly, substitute for war. Team spor...
4 comments
Read more

RIGHT TO INFORMATION & EVIDENCE

RIGHT TO INFORMATION & EVIDENCE This is a time when lot of information is being gathered with the help of RTI Act. In fact there are specialists in the field popularly known as RTI Activists. Without going into the motive of the RTI Activists and thinking purely from legal point of view the question arises is “Does the information gathered under the RTI Act can be termed as a good evidence under the Evidence Act”. The Information given under the RTI Act is in reply to the information sought by the Applicant under the RTI Act. Thus reply is correlated to the query and has to be in context of information that is sought. Thus any reply can never be read in isolation and has to be read along with the information sought. Further, the information may not be complete and it is only based on what is there in record and is in reply to the query and therefore it is important to have the copy of the documents based on which the information is provided. This certified copy can be ter...
5 comments
Read more

CD's are Documents as per Evidence Act, holds Supreme Court of India

CDs are documents and can be considered as evidence under law: SC The Supreme Court has ruled that a compact disc (CD) is a document under Section 3 of the Indian Evidence Act, 1872. The Court also held that a CD has to be exhibited/played by the trial court to enable the public prosecutor to admit or deny its genuineness under Section 294 of the Code of Criminal Procedure (CrPC). The decision was rendered by a Division Bench of PC Pant and Dipak Misra JJ. in an appeal against the decision of the High Court of Punjab and Haryana in the case of Shamsher singh Verma Vs. State of Haryana. The appellant accused is on trial for molestation of his niece and is currently lodged in jail. He had sought to rely on the recording of a conversation between his wife and son, and the father of the victim. The appellant had  moved an application Section 294 of CrPC to get the CD played in the court for preserving a copy of the text contained, and therei...
Post a Comment
Read more