Creation of trust for disposal of odd lot shares

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....ed with the problem of selling these shares at the market rates quoted for shares in marketable lots. With a view to explore ways and means and to minimise the difficulties of investors in this regard, the Department has examined this problem in consultation with the Chambers of Commerce and the Securities Exchange Board of India (SEBI). The Chambers of Commerce and some of the major companies wer....

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....n should be responsible, trustworthy and unconnected with the day-to-day management of the company.      (ii) The trustee shall only sell the shares of the company in odd lots and shall not deal with shares of other companies.      (iii) The company may provide certain initial funds to start the operation and ultimately the trustee will reimburse the f....

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....the transactions entered into by him in respect of odd lot shares and shall be open for scrutiny by the Registrar of Companies. 3. The companies in their own interest will closely monitor and maintain a surveillance on the books of the trustee in regard to the share transactions in odd lot on behalf of the investors. Any complaint against any misconduct by the trustees can be sent by the invest....