Restrictions on exclusively listed companies: freeze of promoters' transfers and market access barred until exit option provided to shareholders. SEBI requires that promoters and directors of non-compliant Exclusively Listed Companies must have all equity share transfers and corporate benefits frozen and their identities disseminated; their bank accounts/assets may be attached to compensate investors. Such promoters, directors and promoted companies are barred from raising capital in the securities market and from serving as directors of listed companies until an exit option is provided to public shareholders and certified by the Designated Stock Exchanges, with Exchanges and Depositories instructed to coordinate enforcement.
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.
Restrictions on exclusively listed companies: freeze of promoters' transfers and market access barred until exit option provided to shareholders.
SEBI requires that promoters and directors of non-compliant Exclusively Listed Companies must have all equity share transfers and corporate benefits frozen and their identities disseminated; their bank accounts/assets may be attached to compensate investors. Such promoters, directors and promoted companies are barred from raising capital in the securities market and from serving as directors of listed companies until an exit option is provided to public shareholders and certified by the Designated Stock Exchanges, with Exchanges and Depositories instructed to coordinate enforcement.
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