Thursday March 30 2017
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: India
Link: http://www.sebi.gov.in/cms/sebi_data/attachdocs/1490619875822.pdf
The Securities and Exchange Board of India (SEBI) on 10th October 2016, provided a period of three months to the Exclusively Listed Companies (ELCs) on the Dissemination Board (DB) to submit an action plan to list or to provide exit to shareholders to the designated stock exchanges.
Furthermore, the SEBI circular dated 5th January 2017 extended the time to submit a plan of action until March 31, 2017.
SEBI has been receiving representations seeking clarifications on the raising of further capital and the process of exit of ELCs from the DB. Therefore, in the interest of the investors of such ELCs, SEBI have decided to extend the time to submit the plan of action until 30th June 2017. All other conditions as mentioned in the SEBI circular dated 10th October 2016 remain unchanged.
Click on the link above for further details.