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Difficult to enforce new public holding rule: Sebi

The SEBI has told the government that recent budget proposals could undermine its role as regulator, particularly with respect to the recommendation that the minimum public shareholding be raised to 35% from 25%. Already, government-owned companies are laggards in raising this level to the current 25% norm. As many as 31 PSUs including PNB, Bank of India and Corporation Bank have still not complied with the 25% minimum public shareholding norm. Ensuring compliance would be greatly impacted particularly from PSUs as SEBI has to depend on government for funding that could lead to a conflict of interest.

Read More at The Economic Times News date : 19 Jul 2019, Friday

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