India’s 5th largest mutual fund distributor gifts shares worth Rs 33 crore to employees

Sanjay Shah, founder of Prudent Corporate Advisory Services, gifted shares worth Rs 33 crore to 650 employees, including his household staff, to mark his 25 years in business. However, he faced a regulatory issue as gifted shares must be classified as part of the promoter group. He sought exemption from SEBI, highlighting a rare gesture […]