Public shareholding obligations require restoration to prescribed minimums within SEBI specified timelines after insolvency resolution. The amendment adds a rule requiring listed companies whose public shareholding falls below 25 per cent due to implementation of an Insolvency and Bankruptcy Code resolution plan to restore public shareholding to 25 per cent within three years, and where public shareholding falls below 10 per cent to raise it to at least 10 per cent within eighteen months, by means specified by the Securities and Exchange Board of India.
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.
Public shareholding obligations require restoration to prescribed minimums within SEBI specified timelines after insolvency resolution.
The amendment adds a rule requiring listed companies whose public shareholding falls below 25 per cent due to implementation of an Insolvency and Bankruptcy Code resolution plan to restore public shareholding to 25 per cent within three years, and where public shareholding falls below 10 per cent to raise it to at least 10 per cent within eighteen months, by means specified by the Securities and Exchange Board of India.
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