NEW DELHI: To make it easier for listed companies to comply with various regulations and to safeguard the interest of minority investors, regulator Sebi is set to bring out new set of norms for listing compliance, delisting of shares and for a better check against insider trading. The changes in these regulations would be considered by the board of the capital markets regulator at its board meeting scheduled this week, a senior official said, adding that the main thrust of the proposed changes are safeguarding the interest of investors without making the regulatory framework cumbersome for listed companies and other entities.
Among the key changes, delisting regulations are set for a major overhaul and the new norms are expected to cut down the time taken for a company voluntary delisting from the stock exchanges by about half, from a minimum of 137 days currently.
The new norms are being put in place after long-running consultations with all stakeholders on draft regulations that were made public earlier this year, the official said. While concerns have been raised from some quarters with regard to certain provisions, including those arising out of speculations that the new delisting rules might be somewhat retrospective in nature and that minimum 25 percent shareholders' participation would be necessary, the official said that these concerns are unfounded.
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