TMI BlogPrior Approval for Change in control: Transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in controlX X X X Extracts X X X X X X X X Extracts X X X X ..... ries All Merchant Bankers All Registrar to an Issue and Share Transfer Agent All Debenture Trustee All Credit Rating Agencies All Bankers to an issue Dear Sir / Madam, Sub: Prior Approval for Change in control: Transfer of shareholdings among immediate relatives and transmission of shareholdings and their effect on change in control SEBI vide circular No: CIR/MIRSD/14/20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or child of the person or of the spouse; b) Transfer of shareholding by way of transmission to immediate relative or not, shall not result into change in control. 2. Transfer /transmission of shareholding in case of a proprietary firm type intermediary: In case of an intermediary being a proprietary concern, the transfer or bequeathing of the business/capital by way of transmission to ano ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... strued to be change in control. Where the partnership firm consists of two partners only, the same would stand as dissolved upon the death of one of the partners. However, if a new partner is inducted in the firm, then the same would be considered as a change in control, requiring fresh registration and prior approval of SEBI. b) Transmission of ownership interest in case of partnership firm: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Securities and Exchange Board of India Act, 1992 , to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully Anupma Chadha Dy. General Manager Phone:022-26449319 Email: anupmac@sebi.gov.in - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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