BSE Notifies in Regard to Amendment of Rule 19A (5) of the Securities Contracts (Regulation) Rules, 1957 

On 31st January 2023, the Bombay Stock Exchange (BSE) issued a Notice in reference to the Notification issued on 18th June 2021, amending Rule 19A (5) of the Securities Contracts (Regulation) Rules, 1957 (SCRR).

The now Amended Rule 19A (5) of SCRR is stated as follows – (5) Where the public shareholding in a listed company falls below twenty-five per cent, as a result of the implementation of the resolution plan approved under section 31 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), such company shall bring the public shareholding to twenty-five per cent within a maximum period of three years from the date of such fall, in the manner specified by the Securities and Exchange Board of India.