The Securities and Exchange Board of India (Sebi) has intensified its scrutiny on promoter classification of companies looking to go public, with the regulator's observations prompting at least six companies in the past three months to include individuals or entities as promoters, according to three people familiar with the developments and filings reviewed by Mint.
Questions were recently raised by securities lawyers and proxy advisory firms on founders of money-losing startups continuing to retain control of the companies even though they classified themselves as public shareholders.
The issue of founders enjoying the perks of being a promoter without being classified as one was thrust into the limelight after Paytm founder-chief executive officer Vijay Shekhar Sharma decided to acquire an additional 10.3% in the company from Ant Financial.
Sharma is a non-retiring director on the board of Paytm parent One97 Communications Ltd, chairman of the company, and has a right to a board seat as long as he holds at least 2.5% of the company, things which securities lawyers believe give him control of the company. But Sharma does not call himself a promoter of Paytm.
この記事は Hindustan Times の August 17, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Hindustan Times の August 17, 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Bracelet confessions: Are Khushi-Vedang Insta official?
After dodging questions around their rumoured romance for almost a year, actors Khushi Kapoor and Vedang Raina may have finally let the cat out of the bag – thanks to a bracelet.
SANJAY BANGAR'S KID ARYAN IS NOW ANAYA
The former cricketer's child Anaya has gone viral after sharing her transition story
A nice change of pace: Rithvik on surprise birthday trip to Dubai
Actor Rithvik Dhanjani turned 36 in style this month (on November 5), celebrating with friends on a lavish cruise in Dubai.
Gambhir bats for KL Rahul to open if Rohit misses first Test
For India players, young and old, the tour of Australia is a chance to show how good they really are
SANGITA'S DOUBLE HANDS INDIA WIN OVER MALAYSIA IN OPENING MATCH
Young striker Sangita Kumari scored a brace as defending champions India defeated Malaysia 4-0 to open their campaign at the women's Asian Champions Trophy hockey tournament on a confident note on Monday.
Ruud beats Alcaraz in ATP Finals opener
Norway's Casper Ruud eased to a straight-sets victory over Carlos Alcaraz as the Spanish star's bid for a maiden ATP Finals title got off to a poor start.
Imagine how many countries have players like KL, who can actually open, can bat at No.6 as well... he can do the job for us, if Rohit is not available for the first Test
The players left in two batches and will be there well in time for the series opener, but settling down is not going to be easy.
Usha and IOA EC members in row over Natl Games
The announcement of dates for next year's National Games in Uttarakhand has sparked a fresh row between Indian Olympic Association president PT Usha and its executive committee members.
The Gambhir-Rohit chemistry faces big test in Australia series
India coach Gautam Gambhir's media conference on Monday morning before leaving for Australia was so last minute that it couldn't be arranged in the hotel the squad members were staying in.
Chakravarthy gets second wind in spin tale for India
It's rare that spinners take to South African pitches with relish.
