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Difficult to enforce new public holding rule: Sebi
Friday, July 19, 2019, 12:08 PM
The Securities and Exchange Board of India (Sebi) has told the government that recent budget proposals could undermine its role as regulator, particularly with respect to the recommendation that the minimum public shareholding be raised to 35 percent from 25 percent. Already, government-owned companies are laggards in raising this level to the current 25 percent norm, said a senior Sebi official.
Corporate affairs ministry to collect KYC details of companies, CAs
Sunday, January 6, 2019, 9:00 PM
In efforts to weed out unscrupulous elements, the Corporate Affairs Ministry plans to collect KYC details of companies, chartered accountants, cost accountants and company secretaries. A senior ministry official said the exercise would help in having a "sanitised list" of companies and professionals. Corporate Affairs Secretary Injeti Srinivas said that KYC requirement for directors was a major step.
PNB resolves: National anthem will be played at every Annual General Meeting
Wednesday, December 26, 2018, 8:27 AM
State-owned Punjab National Bank, wracked by the Nirav Modi scam, has decided that the national anthem will be sung at every AGM and Extraordinary General Meeting (EGM), usually held to seek shareholders' approval on key decisions. The Securities and Exchange Board of India and Reserve Bank of India rules do not require companies or banks to play the national anthem at AGMs and EGMs.
