Updated By: LatestGKGS Desk
Sebi reduces restrictions on 40 entities, passed certain relaxion
Securities and Exchange Board of India has given certain relaxations on the entities which were banned from the securities market.
It has relieved control on 40 entities against whom it had taken action in two different cases claiming for misuse of stock market platform for tax circumvention and suspected money laundering.
The relaxations include permission to deal in government securities and invest in ETF (Exchange Traded Fund).
Given permission for delivery based transactions, can sell securities etc.
They have also been given permission to enter delivery based transactions in the cash segment in NSE Nifty 500 index and S and P BSE 500 shares and mutual funds.
The relaxations which have been extended to the entities can sell securities lying in their demat accounts as on the date of interim records.
The shares of the companies which have been already suspended are excluded from this relaxation.
The sale proceeds which are lying in escrow can be used for certain purposes.
The value of portfolio of 25% as on the date of interim order/ the amount excess of profit or loss incurred or value of shares whichever is higher can be utilised for business purposes.
