Sebi has revoked restrictions imposed on Best Eastern Hotels, its directors and promoters, saying that the company has complied with the minimum public shareholding norms. Sebi had imposed various restrictions on 105 firms, including Best Eastern Hotels and their promoters and directors, on June 4, 2013, after the expiry of deadline for achieving minimum public shareholding of 25%. The regulator had frozen the voting rights and corporate benefits of promoters and directors of these companies and barred them from holding any new position on boards of listed firms.
Sebi permits Titan Trading promoters to deal in shares
Sebi has partially revoked restrictions it had imposed on two promoters of Titan Trading & Agencies for failing to comply with minimum public shareholding norms on time. Sebi lifted the curbs that barred Titan Trading?s promoter-director Atul Choksey and promoter Parul Choksey from dealing in shares of the company, which is in the process of getting delisted voluntarily. Sebi asked the firm to complete the ?delisting process within a period of three months?, failing which the restrictions would be ?reimposed?. ?The direction issued in…the interim order dated June 4, 2013, stands modified to the extent that it shall not hinder the already commenced voluntary delisting process initiated by the company, Titan Trading & Agencies,? Sebi said.