Bourses ask trading members to disclose holding in listed cos

Business

oi-Staff

By Super

Published: Thursday, March 6, 2014, 16:19 [IST]

Mumbai, Mar 6: To ensure more transparency in the capital market, stock exchanges have asked their trading members to disclose their shareholding pattern if they hold one per cent or more stake in any listed company.

Such disclosure norms would be applicable for trading members holding direct as well as indirect stake in any listed entity.The move will help in increasing transparency as well as providing correct picture of the actual shareholding of a listed company.

In separate circulars, National Stock Exchange, BSE and MCX-SX have asked trading members who hold one per cent or more of the share capital in any listed company, directly or through their clients, to disclose the same.

The members would have to make ‘nil' submissions in case of holdings that do not exceed one per cent or more stake.The members are required to submit the disclosure in the prescribed format to the exchanges from December 2013 quarter onwards on quarterly basis.

"For making the disclosure for the quarter ended December 31, 2013, the last date for submission is March 31, 2014", NSE said.

PTI