Sharing of Information in case of Declaration of Member as Defaulter in case of Multiple Membership

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..../ Madam, Sub: Sharing of Information in case of Declaration of Member as Defaulter in case of Multiple Membership 1. As per Section 131(B) of Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile FMC or the Central Government applicable to recognised associations under the FCRA would continue to remain in force for a peri....

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....ce: i. Whenever a member of any segment is declared defaulter, the concerned Stock Exchange/ Clearing Corporation shall immediately declare it a defaulter in all its segments. It shall also immediately inform all other Stock Exchanges/Clearing Corporations the details of the defaulter member such as name of the member, the names of the proprietors/ partners/ promoters/ dominant shareholde....

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....ith other persons, exercises control; or c. whose director or partner is also a director or partner of the member, body corporate or the firm, as the case may be. Explanation: The expression "control" shall have the same meaning as defined under clause (e) of Regulation 2 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. 5. The provision....