Tuesday, October 15, 2013

Suspension should be last step for cos

SEBI said that corp orates would first be fined on a daily basis. After two quarters of non- compliance, the company would be shifted to 'Z' Category, where the trades would be settled on a
trade-to-trade basis. Continued non-compliance would lead to freezing of shares of the promoters and promoter group. This would be done before suspension of trading in shares of the company. To provide an exit window for the non-promoters, after 15 days of suspension, trading in the shares
of a non-compliant entity will be available on the 'trade-for-trade' basis, on the first trading day of every week for six months.

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