Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
The Securities and Exchange Board of India (Sebi) has extended the deadline for public comments on its proposal to facilitate ease of doing business to July 29. Initially, the deadline was set for July 17.
This extension follows the release of a consultation paper on June 26, which sought to harmonize the provisions of ICDR (Issue of Capital and Disclosure Requirement) and LODR (Listing Obligations and Disclosure Requirements) Regulations.
Key proposals in the consultation paper include allowing companies to hold virtual or hybrid shareholder meetings permanently and providing additional time for disclosing the outcomes of board meetings held after trading hours. Sebi also suggested combining pre-issue and price band advertisements into a single advertisement, disclosing certain information via QR codes, and detailing pre- and post-issue shareholding for promoters and the top 10 shareholders.
Further recommendations include system-driven disclosures of shareholding patterns and credit rating revisions, and making the publication of detailed financial advertisements in newspapers optional for listed entities.
These proposals, developed by an expert committee chaired by former Sebi member SK Mohanty, aim to ease business operations, provide clarity, and reduce compliance burdens while ensuring investor protection.
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