SR SHAREHOLDING RULES
NCLT clears Hotel Horizon resolution; NCLAT bars equity creation for now
The National Company Law Tribunal has approved the acquisition of Hotel Horizon by a consortium including Oberoi Realty. This follows the company's admission of liabilities. The successful bidder's plan offers a significant recovery for lenders. However, the NCLT order has been challenged at the NCLAT, which has put a stay on further actions pending its final ruling.
Multibagger Tracker! This footwear stock turns Rs 10,000 to Rs 1.2 lakh in just 10 years
In the recent past, the stock rally faded away to an extent and returned 13% to investors in the last six months. The past three months saw the shares rising by 9%.
Tata's multibagger! This consumer discretionary firm turns Rs 10,000 to Rs 1.4 lakh in just 10 years
In the last five years, Titan's stock has more than tripled investors' wealth. While the growth has moderated (30%) in the last one year, it still beat the benchmark Nifty, which gained about 7% in the same period.
Most companies stick with auditor after 5-year term
The Companies Act 2013 says that a firm of auditors cannot be appointed as auditors for more than two terms of five years, according to rules that went into force in 2017. When an auditor's five-year terms are up, the firm can't be re-hired for another five years.
India Inc raises concerns over a few of the related party transaction norms
India Inc is concerned over some of the new related party transaction (RPT) norms prescribed by the Securities and Exchange Board of India (Sebi) for listed companies which will come into effect from April this year, and has made representations through industry bodies like the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI) to amend these provisions.
No SVR share ownership through trusts for now
The Securities and Exchange Board of India (Sebi) has turned down a demand by several startups to allow founders to hold superior voting rights (SVR) shares through trusts, said people with knowledge of the matter. Currently, full-time executives of a company are only allowed to own SVR shares directly. Several companies lobbied Sebi to allow ownership through trusts since this is beneficial from a tax point of view.
Sebi eases eligibility criteria related to superior voting rights shares
The regulator said while determining the individual net worth of the SR shareholder, his investment/ shareholding in other listed companies shall be considered, but not that of his shareholding in the issuer company.
Insurers vs Aggregators
In today’s ETtech Morning Dispatch: Unacademy raises $440 million at $3.4 billion valuation to fuel its diversification plans, IndiaTech asks Sebi to tweak rules on SR shares, and Zomato rolls out an incentive scheme for delivery partners.
IndiaTech proposes key changes in SR shareholding rules to Sebi
The conversation around shares with superior voting rights, or SR shares, is happening at a time when several Indian startups —from Paytm to Policybazaar—are looking to tap the public markets via IPOs.
Sebi proposal may bolster IPO-bound founders’ rights
The proposals have the potential to help founders dilute stakes without losing control, make tax structures more efficient and help in succession planning.
Sebi proposal may bolster IPO-bound founders' rights
Move may help founders dilute stakes without losing control, make tax system more efficient
Sebi proposes key changes to superior voting rights shares
Under Sebi rules, the definition of promoter and promoter group is very broad and can include a large set of relatives and entities. Investments and net-worths of such relatives and entities would also be considered for determining the collective net worth.
Sebi notifies relaxed rules for listing start-ups
The changes have been made to the framework for listing on the Innovators Growth Platform (IGP), according to two separate notifications issued on Wednesday.
Hexaware Technologies to offer Rs 475 per share for delisting
The bid process for the delisting offer - where the promoters were offering a floor price of Rs 264.97 per share - had started on September 9 and closed on September 16.
GAAR ambiguity clouds corporate revamp
Ambiguity looms large over the transactions by way of GAAR.
Why is everyone talking about ESG mutual funds these days?
Both Quantum ESG Equity Fund and SBI Magnum Equity ESG Fund have outperformed the Nifty 100 ESG Index in the past one year and six months.
Rapido enters fast lane with ₹ 390 crore
Firm’s post-money valuation soars to ₹1,000 cr after latest round led by Westbridge Capital.
RBI hopes to ringfence new banks from promoter groups
The new rules say that at least 50% of the directors of the holding company should be independent directors.
Govt likely to allow 100% FDI in ARCs
The government may allow higher foreign investment in asset reconstruction companies that buy distressed loans of banks and make money by recovering them.
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