Knowledge Hub - MMJC - Page 31

1. Background: Securities and Exchange Board of India (‘SEBI’) and Stock Exchanges have been penalizing and warning Listed Entities to maintain a functional website and contents in accordance with Regulation 46 and Regulation 62 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 (‘SEBI (LODR) Regulations) for Equity Listed and Non-Convertible Securities Listed Entities respectively.

Securities and Exchange Board of India (‘SEBI’) vide its notification dt: February 7, 2023 has brought in SEBI (Buyback of Securities) (Amendment) Regulations, 2023. This is effective from thirtieth day of notification of amendment in official gazette i.e. effective of amendment is March 9, 2023. A. Calculating maximum limit of buyback: For calculating maximum limit

Every listed entity is mandated to maintain Minimum Public Shareholding (“MPS”) under Rule 19(2)(b) and 19A of the Securities Contracts (Regulation) Rules, 1957 read with Regulation 38 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”). In case of listed entities whose MPS falls below the prescribed threshold,

Securities and Exchange Board of India (“SEBI”) has amended Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (“SEBI ILNCS”) by way of its amendment notification dt: February 3, 2023. The highlights of this amendment are as follows:- Debenture trustees already have powers to appoint nominee director on the board

The Securities Contracts (Regulation) Act, 1956 (“SCRA”) and the Securities Contracts (Regulation) Rules, 1957 (“SCRR”) prescribes various conditions with regard to securities market. Rule 19 of SCRR deals with conditions with respect to listing of securities on recognised stock exchange, whereas Rule 19A of SCRR deals with minimum public shareholding related conditions to be fulfilled