Securities And Exchange Board Of India - Subsection
Section 31A(4) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(4)The promoter(s) seeking re-classification, subsequent to re-classification as public, shall comply with the following conditions:(a)he shall continue to comply with conditions mentioned at sub-clauses (i), (ii) and (iii) of clause (b) of sub-regulation 3 as specified above at all times from the date of such reclassification failing which, he shall automatically be reclassified as promoter/ persons belonging to promoter group, as applicable;(b)he shall comply with conditions mentioned at sub-clauses (iv) and (v) of clause (b) of sub-regulation 3 for a period of not less than three years from the date of such re-classification failing which, he shall automatically be reclassified as promoter/ persons belonging to promoter group, as applicable.
