On 25 March 2021, IND SEBI clarified on transfer of shareholding, ownership.
- IND SEBI clarified circular CIR/MIRSD/14/2011 re transfer of shareholdings among immediate relatives, transmission of shareholdings, and effect on change in control.
Control
- Clarified transmission of shareholding in case of unlisted body corporate intermediary, proprietary firm-type intermediary, as well as partnership firm-type intermediary.
- Incoming entities/shareholders will need to satisfy the fit and proper person criteria.
