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Disclose consolidated stake of shareholders: Sebi to bourses

Disclose consolidated stake of shareholders: Sebi to bourses
To avoid multiple disclosures, the Securities and Exchange Board of India(Sebi) asked on Tuesday exchanges and depositories to disclose consolidated holding of each shareholder, including promoters and public on the basis of the PAN and folio number.
This will help avoid multiple disclosures of share holding of the same person, Sebi said in a circular.According to Sebi, holding disclosures of the promoter and promoter group, publics hare holder and others must be accompanied with PAN (first holder in the case of joint holding).
"Further, the shareholding of the promoter and promoter group, public shareholder and nonpublic, nonpromoter shareholder is to be consolidated on the basis of the PAN and folio number to avoid multiple disclosures of shareholding of the same person," the regulator noted.Folios are numbers designated to individual investor accounts, though one investor can have multiple accounts.

The Business Standard, New Delhi, 20th December 2017

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