Chapter V - RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION (From Regulation 26 to Regulation 58C)
Shareholding limits require Board approval for significant depository stakes and fit and proper annual compliance. Regulation 6B requires persons acquiring or holding equity shares or voting rights in a depository to be fit and proper, to seek Board approval when they cross the prescribed shareholding threshold (including concerted acquisitions), and, if approval is refused, to divest excess shares. Holders above the threshold must file an annual declaration confirming fit and proper compliance, and instruments conferring present or future voting rights or equity entitlements are included when determining shareholding for the limits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Shareholding limits require Board approval for significant depository stakes and fit and proper annual compliance.
Regulation 6B requires persons acquiring or holding equity shares or voting rights in a depository to be fit and proper, to seek Board approval when they cross the prescribed shareholding threshold (including concerted acquisitions), and, if approval is refused, to divest excess shares. Holders above the threshold must file an annual declaration confirming fit and proper compliance, and instruments conferring present or future voting rights or equity entitlements are included when determining shareholding for the limits.
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