Securities And Exchange Board Of India - Subsection
Section 3(9) in Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014
(9)For the purposes of disclosures to the stock exchange, the shareholding of the trust shall be shown as 'non-promoter and non-public' shareholding.Explanation. - For the removal of doubts, it is clarified that shares held by the trust shall not form part of the public shareholding which needs to be maintained at a minimum of twenty five per cent as prescribed under Securities Contracts (Regulation) Rules, 1957.
