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Public shareholding requirement: companies must restore minimum public float after depository receipt or employee benefit schemes within a mandated compliance period. Amendment redefines public shareholding to include equity underlying depository receipts listed internationally with voting-instruction rights and excludes shares held by employee benefit trusts; it mandates that listed companies whose public shareholding falls below the prescribed threshold due to the Depository Receipts Scheme, 2014 or the SEBI Share Based Employee Benefits Regulations, 2014 must restore public shareholding to at least that threshold in the manner specified by SEBI within a three-year compliance period from the relevant notification.
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Provisions expressly mentioned in the judgment/order text.
Public shareholding requirement: companies must restore minimum public float after depository receipt or employee benefit schemes within a mandated compliance period.
Amendment redefines public shareholding to include equity underlying depository receipts listed internationally with voting-instruction rights and excludes shares held by employee benefit trusts; it mandates that listed companies whose public shareholding falls below the prescribed threshold due to the Depository Receipts Scheme, 2014 or the SEBI Share Based Employee Benefits Regulations, 2014 must restore public shareholding to at least that threshold in the manner specified by SEBI within a three-year compliance period from the relevant notification.
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