TIL Desk/Business/Kolkata/ Bandhan Bank on Friday said it has received an exemption from the Securities and Exchange Board of India (Sebi) with respect to lock-in of one year on the equity shares held by the promoter and eligibility condition of one year from listing in order to comply with licensing condition.
“It is hereby informed that the Bank has received an exemption from the Securities and Exchange Board of India with respect to (i) lock-in of one year on the equity shares held by the promoter; and (ii) eligibility condition of one year from listing… in order to comply with the requirements of RBI Licensing Guidelines for Private Sector Banks,” it said in a regulatory filing.
The Reserve Bank of India (RBI) had recently withdrawn its general permission to open new branches and froze the remuneration of the lender’s MD and CEO Chandra Shekhar Ghosh till further notice as it was not able to bring down the shareholding of Non Operative Financial Holding Company (NOFHC) to 40 per cent, as required under the licensing condition.
