04-29-2010, 01:06 AM
Dear Star,
As per my understanding, those are promoters, majority shareholders and directors who have given an undertaking at the time of formation of NBFC that they will not sale or transfer their shares without prior approval of the SECP. So the Company will not be required to submit any information in this regard. However, the concerned individual may by writing a letter to SECP and giving reference to such undertaking may seek approval of SECP. However, if there is change in directorship and pattern of shareholding etc then NBFC have to submit required Forms e.g Form 29 Form 28 or Form 27 etc being a Public Limited Company.
As per my understanding, those are promoters, majority shareholders and directors who have given an undertaking at the time of formation of NBFC that they will not sale or transfer their shares without prior approval of the SECP. So the Company will not be required to submit any information in this regard. However, the concerned individual may by writing a letter to SECP and giving reference to such undertaking may seek approval of SECP. However, if there is change in directorship and pattern of shareholding etc then NBFC have to submit required Forms e.g Form 29 Form 28 or Form 27 etc being a Public Limited Company.
