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Public shareholding: Sebi lifts curbs on Vintron Informatics

Press Trust of India  |  New Delhi 

Markets regulator today lifted restrictions imposed on after the firm complied with minimum public shareholding norms.

The Securities and Exchange Board of (Sebi), in June 2013, had imposed curbs on 105 firms including Vintron Informatics, its promoters and directors for not achieving the minimum 25 per cent public holding within the June 3 deadline of the same year.

The regulator had frozen the voting rights and corporate benefits of promoters/directors of the company and barred them from holding any new position on boards of listed firms, among others.

The restrictions on were affirmed through a confirmatory order in September 2014.

In an order passed today, vacated "the directions issued vide the interim order dated June 4, 2013 read with confirmatory order dated September 2, 2014 against Vintron Informatics, its directors, promoters and promoter group with immediate effect".

The decision has been taken after the firm successfully completed two rounds of offer-for-sale between February and March, 2017 for achieving minimum public shareholding (MPS) norms.

As per the shareholding pattern for the quarter ended on March 31, 2017, the promoter stake in reached 75 per cent, while the same for public was at 25 per cent, the regulator said.

"It is observed that as on March 24, 2017, VIL has achieved the MPS and has complied with the MPS norms," said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 18:32 IST