Bse Convenes Meeting Of Co Secretaries

The Bombay Stock Exchange (BSE) has called for a meeting of company secretaries on July 3 in order to prepare a working document, which will help expedite the share transfers.

The exchange officials yesterday held a meeting with the RAIN officials to discuss the issue of share transfer and also to get their suggestion on the amendments in listing norms. The RAIN, in an earlier meeting had suggested amendmends in the listing norms.

According to sources, the exchange with the help of company secretaries and the Registrars Association of India (RAIN) wants to prepare this document in one months time.The exchange plans to call 60-odd company secretaries in order to discuss the issue of transfer of shares. "There has been a lot of deliberations with RAIN members but nothing concentrete has so far come out of the meetings till now. Hence we decided to call for a meeting of company secretaries," informed a BSE source. It is learnt that the exchange wants to make a standardise the transfer procedures which will evetually reduce investor grievances.

 

RAIN has also submitted a detailed proposal to the BSE on the amendmends required to be carried out in the listing norms at the exchange.

The Bussiness Standrad had earlier reported that changes had been suggested to Department of Companies Affairs (DCA) for fine tuning of share transfers.

The exchange also plans to write to the department of company affairs (DCA) suggesting crucial changes in the companies Act to streamline the process of share transfer and reduce investor grievances. The recommendations will also seek to reduece the pressure faced by the stock broking community which in recent times faced flak for the delay in share transfer, while corporates and registrars have got away.