Supreme Court: Promotion Suitability Must be Decided by Experts, Courts Cannot Create New Methods || SC: Market Integrity is Paramount; Rule Violators Cannot Escape Liability by Citing Investor Gains || SC: Plaintiff's Reply to Counterclaim in Commercial Suits Must Meet Written Statement Deadline || SC: Pre-2016 Debt Recovery Tribunal Recovery Certificates Cannot Support Insolvency Notices || SC: Children's Court Cannot Try Child as Adult Without Passing a Reasoned Order under JJ Act || SC: Contractual Clauses Denying Interest on Security Deposits Does Not Violate Public Policy || J&K&L HC: Unamended Pleading Loses Effect After Amendment; Party Cannot Benefit From Own Default || Allahabad HC: Wife's Maintenance Need Not be Fixed at 25% of Husband's Net Income || Kerala HC: Social Customs Alone Cannot Prove Bride Entrusted Gold to Husband or In-Laws || Karnataka HC: Century Club Qualifies as a Public Authority under the RTI Act Due to Land Grant

Review of Offer for Sale of Shares through stock exchange mechanism- (Securities and Exchange Board of India) (15 Feb 2016)

MANU/SSMD/0005/2016

Capital Market

The Securities and Exchange Board of India has modified the guidelines on sale of shares through Offer for Sale mechanism in response to suggestions from both sellers and investors. Aimed at encouraging greater participation of all investors, sellers under OFS will have to notify stock exchanges of intention to sell shares by 5pm the day before the offer. Timeframe has also been set for retail and non-retail investors to ensure adequate opportunity to bid, and prevent under-subscription of shares.

Tags : OFFER FOR SALE SHARES NOTIFICATION TIMEFRAME

Share :