valid as on 15/10/2018

2.10.8:Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.

8. Shareholding.

(1) No person shall at any time, directly or indirectly, either by itself or together with persons acting in concert, acquire or hold more than ten per cent of the paid-up equity share capital or total voting power of an information utility:

Provided that the following persons may, directly or indirectly, either by themselves or together in concert, acquire or hold up to twenty-five percent of the paid-up equity share capital or total voting power of an information utility :-

(a) government company;

(b) stock exchange;

(c) depository;

(d) bank;

(e) insurance company; and

(f) public financial institution.

Notwithstanding anything to the contrary contained in sub-regulation (1)—

(a) a person may, directly or indirectly, either by itself or together with persons acting in concert, hold up to fifty-one percent of the paid-up equity share capital or total voting power of an information utility up to three years from the date of its registration; or

(b) an Indian company,

(i) which is listed on a recognised Stock Exchange in India, or

(ii) where no individual, directly or indirectly, either by himself or together with persons acting in concert, holds more than ten percent of the paid-up equity share capital, may hold up to hundred percent of the paid-up equity share capital or total voting power of an information utility up to three years from the date of its registration.

Provided that the information utility is registered before 30th September, 2018.

(3) The provisions of this Regulation shall not apply to the holding of shares or voting power by the Central Government or a State Government.

Substituted vide the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2017,dated 29.09.2017, To view the notification,Click Here
Substituted vide the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2017,dated 29.09.2017, To view the notification,Click Here

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