Relaxation from the applicability of SEBI Circular dated October 10, 2017 on noncompliance with the Minimum Public Shareholding (MPS) requirements
By INSOL India - Editorial Team Posted On : June 01, 2020
SEBI vide its circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/81 dated 14th May 2020 in exercise of powers conferred on it under Section 11(1) of the Securities and Exchange Board of India Act, 1992, read with regulations 97, 98, 101 and 102 of the LODR, has granted relaxation from the applicability of its October 10, 2017 circular. Accordingly, the stipulations of the October 10, 2017 SEBI circular are relaxed for listed entities for whom the deadline to comply with MPS requirements falls between the period from March 1, 2020 to August 31, 2020.