SEBI vide circular CIR/MRD/DP/ 33 /2010 dated October 07, 2010 has modified the Securities Lending and Borrowing ("SLB") framework. As per the modified framework, the lenders of shares under SLB scheme will now get dividend on the record date. Currently the borrower who is in the possession of share gets the dividend on the record date and he transfers the dividend to the lender at the time of repayment of the shares borrowed.
Going forward, I will be writing blog posts on various interesting topics concerning the compliances to be undertaken by companies in India (under the Companies Act, 2013, SEBI/RBI rules/regulations etc.). I will analyze these topics mostly in the context of practical implications/issues faced by companies while undertaking such compliances.
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