Sharing of Information in case of Declaration of Member as Defaulter in case of Multiple Membership

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..... eclaration of Member as Defaulter in case of Multiple Membership 1. As per Section 131(B) of Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile FMC or the Central Government applicable to recognised associations under the FCRA would continue to remain in force for a period of one year from the date on which FCRA was repeale .....

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..... ter, the concerned Stock Exchange/ Clearing Corporation shall immediately declare it a defaulter in all its segments. It shall also immediately inform all other Stock Exchanges/Clearing Corporations the details of the defaulter member such as name of the member, the names of the proprietors/ partners/ promoters/ dominant shareholders, as applicable. ii. Immediately on receipt of the information .....

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..... r of the member, body corporate or the firm, as the case may be. Explanation: The expression "control" shall have the same meaning as defined under clause (e) of Regulation 2 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. 5. The provisions of this circular shall come into effect from September 29, 2016 in supersession of all earlier directives issued by er .....

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