https://www.taxtmi.com/article/detailed?id=10785 Reclassification of promoters under Regulation 31A provides a process for promoters or related persons to seek conversion to public shareholder status, subject to eligibility limits (including a combined voting-rights ceiling, absence of control or special rights, no board or KMP roles, and not being willful defaulters or fugitive offenders), company-level compliance with market requirements, a prescribed board and shareholder approval sequence with disclosure to exchanges, and post-reclassification restrictions with automatic reversion on breach; public-to-promoter change typically requires an open offer, while insolvency-resolution or regulator-driven reclassification is exempt from the standard procedures. en-us Thu, 03 Nov 2022 09:06:41 +0530 Thu, 03 Nov 2022 09:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10785 Reclassification of promoters under Regulation 31A provides a process for promoters or related persons to seek conversion to public shareholder status, subject to eligibility limits (including a combined voting-rights ceiling, absence of control or special rights, no board or KMP roles, and not being willful defaulters or fugitive offenders), company-level compliance with market requirements, a prescribed board and shareholder approval sequence with disclosure to exchanges, and post-reclassification restrictions with automatic reversion on breach; public-to-promoter change typically requires an open offer, while insolvency-resolution or regulator-driven reclassification is exempt from the standard procedures. Articles Corporate Laws / IBC / SEBI Thu, 03 Nov 2022 09:06:41 +0530 https://www.taxtmi.com/article/detailed?id=10785