Page 2 - Indian Promoters

Banks invoke Rs 34K-crore personal guarantees in 200 cases so far

Action against 56 accounts in June quarter of FY22

Sebi cuts lock-in period for promoters to 18 months post-IPO

Markets regulator Sebi has reduced the minimum lock-in period for promoters' investment post an initial public offering (IPO) to 18 months from three years, under certain conditions. The move comes at a time when many companies are looking to list on the stock exchanges. In addition, the Securities and Exchange Board of India (Sebi) has streamlined disclosures requirements of group companies. In a notification, Sebi said that if the object of the issue involves offer-for-sale or financing other than for capital expenditure for a project, then the minimum promoters' contribution of 20 per cent would be locked-in for 18 months from the date of allotment in the IPO. Currently, the lock-in period is three years. Capital expenditure includes civil work, miscellaneous fixed assets, purchase of land, building and plant and machinery, among others. Further, the lock-in period for the promoter shareholding in excess of the minimum 20 per cent has also been reduced from the existing one ye

Indian promoters likely to give personal guarantee on foreign assets

RBI proposal a departure from current norms under Fema

Best of BS Opinion: Hope fades for PSBs, a future without promoters & more

Here are the best of Business Standard's opinion pieces for Wednesday

A future without promoters

India's corporate landscape is changing, and the economy is set to change with it, notes Amit Tandon

Banks explore the option of invoking personal guarantee of promotion

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday.

Promoters of over 500 listed firms lose monopoly over independent directors

Voting threshold in favour of appointments will now be 75 per cent, according to Sebi norms.

Promoters of Macrotech Developers repay debt of Rs 1,596 cr owed to company

The promoters have raised these funds by means of a long-term instrument having tenure greater than three years with no repayment obligation prior to that

Tech promoters top list of cash recipients; family-owned groups earn less

Reliance Industries' Mukesh Ambani is fourth on the list in terms of income earned (dividend) from his company in 2020-21 (FY21)

Mauritius, Cayman Islands funds under watch for ownership info gaps

There are concerns that a number of such funds could have a high non-resident Indian (NRI) holding and be used by Indian promoters for round-tripping and manipulating share prices

No backdoor entry

Promoters should not be allowed to delay insolvency resolution

Best of BS Opinion: Accounting gains, games promoters play & more

Here are the best of Business Standard's opinion pieces for Friday

'Promoter' vs 'person in control': How will Sebi's new proposal play out?

The rationale behind replacing the concept of "promoter" with "person in control" is to absolve entities, which, in real­ity, don't have any control over a company

Promoter pledging drops in Q1 even as stocks in broader market extend gains

Value of promoter pledged holdings stood at Rs 1.6 trillion

Mirages in corporate governance

The issue of separation of powers between corporate owners and professional managements has become a hardy perennial in the Indian corporate governance discourse

Indian promoters take back seat, prefer non-exec roles as scrutiny rises

Top firms asking professionals to run daily operations; experts say increased regulatory and shareholder scrutiny is making promoters give up their positions

SC right to protect IBC

Back door for promoters to retain control closed

Sebi plans change in norms to trim promoters' sway on independent directors

Its proposed 'dual approval' system gives more powers to minority shareholders, without whose majority consent it will not be possible for companies to appoint or remove IDs

Sannareddy's share holdings in Megasoft reclassified under public category

Ravindra Sannareddy promoted Megasoft in 1999 and has been instrumental in the growth of the Company, to opt out of Promoter category.

Why some don't deserve a second chance

Last week, Videocon's Venugopal Dhoot and DHFL's Kapil Wadhawan offered to pay to pull their firms out of insolvency process