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Sebi must recast listing rules for the sake of feasibility

Updated : May 16, 2018 11:52 AM IST

Sebi issued a circular mandating companies whose securities are listed on stock exchanges to disclose every default in payment of interest and instalment obligations on debt securities or commercial loans obtained from banks or financial institutions.
But Sebi seems to have overlooked that at times, the listed corporate debtor may make due payment on receipt of such demand notice or in certain cases, genuine disputes might be involved in the claims of the operational creditors.
Likewise, existing requirements for reclassification of promoters into public shareholders and vice versa are very rigid and unclear.
Sebi must recast listing rules for the sake of feasibility

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