Public shareholding obligations require restoration after dilution from depository receipts or employee benefit schemes within prescribed timeframe. The amendments redefine public shareholding to include equity shares underlying depository receipts where the receipt holder can issue voting instructions and such receipts are listed under the Depository Receipts Scheme, 2014, while excluding shares held by trusts for employee benefit schemes; they add a minimum public offer/allotment phrase and require companies whose public shareholding falls below the prescribed threshold due to the Depository Receipts Scheme or Share Based Employee Benefits Regulations to restore public shareholding to the prescribed threshold within three years as specified by the regulator.
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 after dilution from depository receipts or employee benefit schemes within prescribed timeframe.
The amendments redefine public shareholding to include equity shares underlying depository receipts where the receipt holder can issue voting instructions and such receipts are listed under the Depository Receipts Scheme, 2014, while excluding shares held by trusts for employee benefit schemes; they add a minimum public offer/allotment phrase and require companies whose public shareholding falls below the prescribed threshold due to the Depository Receipts Scheme or Share Based Employee Benefits Regulations to restore public shareholding to the prescribed threshold within three years as specified by the regulator.
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