The government today said it may consider changes in recently announced norms for minimum 25 per cent public holding in listed companies, if need arises.

The Ministry of Finance and the Department of Disinvestment are receiving different points of view from public sector enterprises and other stakeholders. So, if there is any need for modification or correction or amendment, that will be done, Finance Secretary Ashok Chawla told reporters on the sidelines of a CII seminar here.

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The Finance Ministry had recently come out with a notification asking all the listed companies to reduce promoters holding to at least 75 per cent.

The listed companies will have to increase public holding by at least 5 per cent each year to comply with the norms.

Certain firms have expressed difficulty in complying with the norms.

Source: PTI

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Category : Company Law (3435)
Type : News (12613)
Tags : Companies Act (1903)

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