Shareholding Transfer Permitted Among Relatives for Unlisted Intermediaries; SEBI Nod Needed for Partnership Firms' Control Change.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Transfer/transmission of shareholding among immediate relatives or by way of transmission shall not result in change in control for unlisted body corporate intermediaries like investment advisers, research analysts and KYC registration agencies. Prior SEBI approval needed for change in control in case of proprietary firms and partnership firms with new partners inducted. Incoming entities/shareholders to satisfy fit and proper criteria.....