Extension of date for demat of 100% Promoters holding
In furtherance to the SEBI Circular No. SEBI/Cir/ISD/3 /2011 dated June 17, 2011, mandating 100% promoter holding in Demat form, by the Quarter ended 30th September 2011, SEBI has decided to extend the current deadline by one quarter i.e. quarter ending December 2011.
This has been done in view of the improved compliance of the above said Circular and various representations being received by them from large number of companies as well as various industry bodies regarding practical difficulties being faced in dematerializing 100% of the promoters holding and seeking exemptions/extension in complying with the provisions.