Four public sector undertakings—Indian Oil Corporation, Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL) and Coal India — are paying an out-of-turn second interim dividend to help the government shore up its revenues. Most of these companies paid interim dividends less than a month ago.
To ensure the latest dividend payout take place before the end of the fiscal, the state-owned entities had to obtain market regulator Securities and Exchange Board of India’s (Sebi’s) leeway on certain regulations. Which are the regulations on which exemption was sought? ...
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