GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

SEBI Revises Guidelines for Written-off Securities of FPIs

As per the norms, written-off securities are sold through the stock exchange in case custodian is unable to deliver securities or ascertain the claimant for securities.

Press Trust Of India

Updated:January 2, 2017, 11:10 PM IST
facebookTwittergoogleskypewhatsapp
SEBI Revises Guidelines for Written-off Securities of FPIs
SEBI Chairman UK Sinha interacts with media during the press conference in Mumbai. (PTI Photo)

Mumbai: Markets watchdog Sebi on Monday said the proceeds from the sale of written-off securities held by non-operating foreign portfolio investors would need to be credited to Investors Protection and Education Fund of the regulator within seven days from the date of receipt.

Besides, the regulator said corporate benefits received in form of cash or dividend would also be credited to the Investors Protection and Education Fund not later than seven days from the date of receipt of the same.

"Corporate benefits received in the form of cash viz dividend shall be credited to the Investors Protection and Education Fund of Sebi not later than seven days from the date of receipt of the same," Sebi said in a circular.

So far, these proceeds are needed to be credited to the IPEF of the concerned stock exchange.

"In case, a custodian is unable to deliver the securities or ascertain the claimant for the securities that are received subsequent to write off due to any unforeseen circumstances... the sale of these securities through stock exchange and proceeds thereof net of expenses shall be credited to the IPEF not later than seven days from the date of receipt thereof," the circular said.

With regard to corporate benefits, the regulator said, "in case of receipt of corporate benefits in the form of securities arising out of shares written off, the same shall be reported to Sebi in the normal manner".

As per the norms, written-off securities are sold through the stock exchange in case custodian is unable to deliver
securities or ascertain the claimant for securities.

Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
L&T Finance 182.45 -5.50 -2.93
HDFC Life 368.70 +13.35 +3.76
Jet Airways 681.70 -38.35 -5.33
Reliance 935.80 +14.95 +1.62
Kotak Mahindra 1,045.00 +4.45 +0.43
Company Price Change %Gain
Kajaria Ceramic 732.50 +19.80 +2.78
L&T Finance 182.75 -5.30 -2.82
HDFC Life 368.55 +13.65 +3.85
NTPC 183.80 +3.65 +2.03
Jet Airways 681.75 -38.80 -5.38
Top Gainers
Company Price Change %Gain
Bharti Airtel 509.00 +16.35 +3.32
Tech Mahindra 489.25 +12.45 +2.61
NTPC 184.50 +4.05 +2.24
Tata Power 93.15 +1.45 +1.58
Reliance 935.95 +15.10 +1.64
Company Price Change %Gain
Bharti Airtel 508.85 +16.20 +3.29
NTPC 184.55 +4.40 +2.44
Reliance 936.45 +17.60 +1.92
Tata Steel 712.55 +11.85 +1.69
Cipla 610.70 +8.10 +1.34
Top Losers
Company Price Change %Gain
Coal India 275.30 -3.05 -1.10
Power Grid Corp 206.90 -1.90 -0.91
Axis Bank 540.50 -4.65 -0.85
Larsen 1,222.00 -7.80 -0.63
TCS 2,686.00 -17.45 -0.65
Company Price Change %Gain
Coal India 275.55 -2.70 -0.97
Axis Bank 540.60 -4.25 -0.78
TCS 2,689.20 -15.45 -0.57
ONGC 179.45 -0.55 -0.31
ITC 258.00 -1.10 -0.42

Live TV