Public shareholding requirement: listed public sector companies must raise public shareholding to prescribed minimum within a fixed compliance period. The amendment to rule 19A removes the exclusion for public sector companies and requires listed public sector companies whose public shareholding was below the prescribed threshold on commencement to increase public shareholding to at least that threshold within a specified compliance period and in the manner to be prescribed by the Securities and Exchange Board of India; the amendment comes into force on publication in the Official Gazette and deletes sub rule three of rule 19A.
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Provisions expressly mentioned in the judgment/order text.
Public shareholding requirement: listed public sector companies must raise public shareholding to prescribed minimum within a fixed compliance period.
The amendment to rule 19A removes the exclusion for public sector companies and requires listed public sector companies whose public shareholding was below the prescribed threshold on commencement to increase public shareholding to at least that threshold within a specified compliance period and in the manner to be prescribed by the Securities and Exchange Board of India; the amendment comes into force on publication in the Official Gazette and deletes sub rule three of rule 19A.
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