Friday May 4 2018
News Source: Global Exchanges
Focus: Listing Rules
Type: General
Country: India
On 3rd May 2018, Securities and Exchange Board of India published a Circular which outlines the penalties to be enforced for breaches of Indian Listing Rules.
The Circular supplements regulation 98 of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) and the 2015 Listing Regulations.
The Circular states that in order to ensure effective enforcement of the Listing Regulations, the depositories, on receipt of intimation from the concerned recognised stock exchange , shall freeze or unfreeze, as the case may be, the entire shareholding of the promoter and promoter group which is found to be non-compliant.
This Circular shall come into force with effect from compliance periods ending on or after 30th Spetember, 2018.
For additional information please click the link above.