Dematerialisation requirement enables shift from trade for trade to rolling settlement when non promoter holdings are dematted and certified. SEBI directs stock exchanges to shift securities of companies connected to both depositories from TFTS to rolling settlement only if at least fifty percent of non promoter holdings are in dematerialised form, certified by the company's RTA or, if none, by a practicing Company Secretary or Chartered Accountant, and provided there are no other reasons to continue trading in TFTS; exchanges must report actions taken in the Monthly/Quarterly Development Report (Section II, item no. 13).
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.
Dematerialisation requirement enables shift from trade for trade to rolling settlement when non promoter holdings are dematted and certified.
SEBI directs stock exchanges to shift securities of companies connected to both depositories from TFTS to rolling settlement only if at least fifty percent of non promoter holdings are in dematerialised form, certified by the company's RTA or, if none, by a practicing Company Secretary or Chartered Accountant, and provided there are no other reasons to continue trading in TFTS; exchanges must report actions taken in the Monthly/Quarterly Development Report (Section II, item no. 13).
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
