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TMI BlogContinuous Listing RequirementX X X X Extracts X X X X X X X X Extracts X X X X ..... e purposes of this sub-rule, a company whose securities has been listed pursuant to an offer and allotment made to public in terms of 5 [***] clause (b) of sub-rule (2) of rule 19, shall maintain minimum twenty five per cent, public shareholding from the date on which the public shareholding in the company reaches the level of twenty five percent in terms of said sub-clause.] (2) Where the public shareholding in a listed company falls below twenty five per cent. at any time, such company shall bring the public shareholding to twenty five per cent. within a maximum period of twelve months from the date of such fall in the manner specified by the Securities and Exchange Board of India.] 10 [ Provided that every listed public sector company wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the manner specified by the Securities and Exchange Board of India: Provided that, if the public shareholding falls below ten per cent, the same shall be increased to at least ten per cent, within a maximum period of 12 [ twelve ] months from the date of such fall, in the manner specified by the Securities and Exchange Board of India. ] 13 [ Provided further that, every listed company shall maintain public shareholding of at least five per cent. as a result of implementation of the resolution plan approved under section 31 of the Insolvency and Bankruptcy Code, 2016. ] 15 [ (6) Notwithstanding anything contained in sub- rules (1) to (5), the Central Government may, in public interest, exempt any listed entity in which the Central Governme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall bring the public shareholding to the level of atleast twenty five per cent by increasing its public shareholding to the extent of at least five per cent per annum beginning from the date of such commencement, in the manner specified by the Securities and Exchange Board of India: Provided further that the company may increase its public shareholding by less than five per cent in a year if such increase brings its public shareholding to the level of twenty five per cent in that year. 4 Substituted for the word three by the Securities Contracts (Regulation) (Third Amendment) Rules, 2017, w.e.f. 3.07.2017. 5 Words sub-clause (ii) of omitted by the Securities Contracts (Regulation) Third Amendment Rules, 2014, w.e.f. 19-11-2014. 6 Sub-rul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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