Promoters consideration ?
Abbasali Sunasara (Company secretary) (25 Points)
21 November 2016Abbasali Sunasara (Company secretary) (25 Points)
21 November 2016
Ramasubbu K
(Sr.GM - Finance & Company Secreta)
(685 Points)
Replied 21 November 2016
Only by virtue of holding 5% share capital, the company will not become a promoter. However, if the private limited company is controlled by the issuer or named as promoter in the offer document, then it will become a promoter.
Please refer Rule 2(za) and (zb) of SEBI (ICDR) Regulations for detailed definition.