Company Act at the time of formation

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Finance Manager
24 Points Posted on 14 May 2011

Hi .

is there any amendment or regulation to keep the stake in between the promotors in public ltd company. what is the first right of refusal. can we " keep on hold  " selling of stake of another promotor.? i am searching this answer since last 4-5 month please help me out.

Like Public company is divided between 2 promotor brothers, can this brother do any arrangement that before selling stake (have to )  inform other brother and give first right to his brother..

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On 14 May 2011 at 10:32 Report
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Expert
6394 Points Posted on 25 May 2011

Mministry of finance came out with the minimum public shareholding (MPS)  guidelines on  on August 9, 2010, it revised the previous guidelines and according to these guidelines, the public sector undertakings (PSUs) are expected to maintain an MPS of 10 per cent, while the private sector has to maintain 25 per cent public holding within three years - that is by June'2013

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On 25 May 2011 at 11:55

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