SC: CIRP Need Not Be Set Aside Solely for Fraudulent Filing of Section 9 Plea || Supreme Court: Compromise Decree Passed Without Impleading Necessary Party is Void || SC: Cheque Dishonour Notice Valid if Sent to Drawer’s Address and Received by Family || J&K&L HC: Minority During Attestation Cannot Justify Decades-Long Delay in Challenging Mutation || Bombay HC: WhatsApp Circulation of Objectionable Photos Can Attract SC/ST Act || J&K&L HC: Cardiac Arrest From Stress of Long-Distance Driving is Compensable || Delhi HC: Accused Cannot Delay Trial and Then Rely on Delay to Seek Bail || Calcutta HC: Insurer Must Compensate Child’s Accidental Death Despite Driver’s Fake Licence || Bombay HC Tells X to Take Down Defamatory Post Targeting Serum Institute, CEO Adar Poonawalla || Delhi High Court Restores Arbitral Award in DMRC’s Favour Passed by Employee-Arbitrator

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 :