Sebi eases restrictions on 201 entities: Reports
29/08/2016 09:48
Sebi has said that it has eased restrictions on 201 entities against whom it had taken action in two different cases of alleged misuse of stock market platform for tax evasion and suspected money-laundering activities. Commenting on the issue, a Sebi Official said, “The entities, which were barred from the securities market in two different cases, have now been given certain relaxations, including permission to deal in government securities and invest in ETF (exchange-traded funds).” “Besides, they can enter into delivery-based transactions in cash segment in NSE Nifty 500 index as well as S&P BSE 500 shares and subscribe to mutual funds. Among others, these entities can tender shares lying in their demat account in any open offer/delisting under the relevant Sebi regulations,” he added. As per the latest orders, the entities for whom relaxations have been extended can sell the securities lying in their demat accounts as on the date of interim orders. This will exclude shares of the companies which are suspended from trading by stock exchanges concerned.
