Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule
Specific sections of the Companies Act need to be amended to empower Sebi to regulate or take penal action against an unlisted entity and its promoters for violating the insider trading and other securities norms.
Regulations ensure only PGs from Indian universities qualify.
More punitive action was needed against the company and the management, say experts
While the market regulator's recent note on portfolio management schemes has kicked up a storm, that is not the only pain point for businesses, says N Sundaresha Subramanian.
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