The entities, which were barred from the securities market in a case, have now been given certain relaxations, including permission to deal in government securities and invest in ETF (exchange-traded funds).
Besides, they can enter into delivery-based transactions in cash segment in NSE Nifty 500 index as well as S&P BSE 500 shares and subscribe to mutual funds.
Among others, these entities can tender shares lying in their demat account in any open offer/delisting under the relevant Sebi regulations.
The end purpose, according to the Securities and Exchange Board of India, was to claim long-term capital gains (LTCG) benefits.
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The regulator had rejected the prayers of the 22 entities "for setting aside the interim orders or for complete removal of restraints imposed by it". However, it has given certain relaxations to these entities.
Besides, sale proceeds lying in the escrow account can be used for certain purposes.
Sebi said, "up to 25 per cent of the value of the portfolio as on the date of the interim order or the amount in excess of the profit made/loss incurred or value of shares purchased to give exit, whichever is higher, may be utilised for business purposes and/or for meeting any other exigencies or addressing liquidity problems etc".
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