Market watchdog Sebi has revoked restrictions it has imposed against Anka India Ltd, its promoters and directors for not complying with the minimum public shareholding norms.
Revoking of curbs follows the company meeting with the minimum public shareholding requirements.
The market regulator in an order today said it did not propose to initiate any further action against Anka India its promoters and directors, as the firm has "complied with the minimum public shareholding norms (25 per cent) though belatedly on October 18, 2013."
"...Hereby revoke the directions issued vide the interim order dated June 4, 2013 against the company, Anka India Ltd, its directors, promoters and promoter group, with immediate effect," Securities and Exchange Board of India (Sebi) noted.
In an June 4 order, Sebi had imposed various restrictions on over 100 companies including Anka India and their promoters and directors for not meeting the minimum 25 per cent public holding within the June 3 deadline.
The regulator had frozen the voting rights and corporate benefits of promoters/directors of these companies and barred them from holding any new position on boards of listed firms, among others.
It had also warned of further actions including levy of monetary penalties, initiation of criminal proceedings and restricting the trading activities of related stocks.
In a separate order, Sebi has directed Gujarat Themis Biosyn Ltd to comply with the minimum public shareholding requirement on or before August 19, 2014 (ie, the date when the 270 day period expires reckoned from November 20, 2013."
At the same time, the regulator said that restrictions would immediately be revived against Gujarat Themis Biosyn Ltd, its directors, promoters if the company fails to comply with Sebi's directives.
Sebi's directives follows an order by Board for Industrial and Financial Reconstruction (BIFR).
