Comments
SEBI on Thursday revoked its interim order against Haryana Financial Corporation (HFCL) and its directors in a matter related to non-compliance of minimum public shareholding norms.
The public shareholding in HFCL — a listed PSU — as on August 9, 2010 was less than 10 per cent.
According to the Securities Contracts (Regulation) Rules, HFCL had time till August 8, 2013, to increase it to at least 10 per cent. But now, taking into consideration the amendment made to the Securities Act on August 22, 2014, the regulator has revoked its earlier order. HFCL now has got time till August 21, 2018, to comply with the norm.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.