Page 15 - BANKING FINANCE November 2018

UN U

ro ire a olle RC ull u ri e
he o rcon nternational as ull su scri ed the second da o idding
ion ri e o R
he Rs crore recei ed ids or
rillion in r Se o er crore shares against the total issue
ross direct ta collection rose si e o o er lakh shares according to
er cent S data
ear on
he shares set aside or uali ied institutional
ear to Rs
u ers s as su scri ed er cent non
tril
institutional in estors er cent and retail
lion in the
in estors ti es the e change data sho ed
irst si
he rice and has een set at Rs a share D Ca ital Markets
onths o
Securities is Ca ital and S Ca ital Markets are the lead anagers to the

issue
ith record inco e ta re unds
crossing Rs trillion in the ril Se
Cen ral o lan or inan e o o er o ernan e i
te er eriod the net collections
stood at Rs trillion er cent ue
higher than the re ious ear he Central go ern ent a ring an rdinance to i le ent changes in the
hese net collections in si onths Co anies ct ased on reco endations o a
or er cent o the annual Co ittee under the Chair anshi o Cor orate
airs Secretar to look into issues o cor orate
udget esti ate o Rs trillion
go ernance he reco endations include a s
his is in line ith the trend o si
to cur shell co anies de clog the ational
onthl collections in the last t o
Co an a ri unal and ca ing inde endent
ears
directors re uneration
ong the constituents o direct
ta es collection o ad ance cor o he co ittee s re ort touches u on issues such as declaration o co ence
rate inco e ta sho ed an i res ent o usiness aintenance o a registered o ice rotection o de ositors
si e gro th o er cent this interests registration and anage ent o charges declaration o signi icant
ear riding o er an er cent ene icial o nershi and inde endence o inde endent directors ke rec
gro th in the last t o ears erts o endation relates to shell co anies
ha e elco ed the data ointing
here is no s eci ic de inition o a shell co an under the Co an a o
out that the orries to go ern ent
e er such co anies are or ed to launder one ee ing this in ind the
inances are e ternal
co ittee has reco ended re introduction o declaration o co ence ent
erall ad ance ta collection as Rs o usiness ro ision ther reco endations related to cor orate co liance
trillion in the eriod er and go ernance include i osition o a ca on inde endent directors re u
cent higher than the re ious ear neration in ter s o ercentage o inco e to re ent an aterial ecuniar
relationshi hich could i air his her inde endence on the oard and hold
t is ertinent to ention that gross
ing o directorshi s e ond er issi le li its to trigger dis uali ication o such
collections o the corres onding e
directors
riod o also included e traor
dinar collections under the nco e t suggested a reduction in the ti e li it or iling docu ents related to cre
Declaration Sche e DS ation odi ication and satis action o charges and stringent enal ro isions
a ounting to Rs illion or non re orting nce a co an o tains restrictions under Section
hich does not or art o the cur relating to signi icant ene icial o nershi in res ect o shares hose o ner
rent ear s collection the Central shi re ains undeter ined such shares should e trans erred to the n estor
oard o Direct a es said in a re
ducation and rotection und i the right ul o ner does not clai o nershi
lease
ithin a ear it said
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