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Oct 18, 2016
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Shareholder nod not must to reclassify promoter group: Sebi
Shareholder's nod is not required for reclassification of promoter group members to public category, subject to certain conditions, Sebi said on Monday.
Expressing its views on an application filed by pharma firm Alembic Pharma, the regulator said such re-classification may be allowed by the stock exchanges under listing norms subject to certain compliances.
Source -
http://millenniumpost.in
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