Epic Update : Gillette

Freezes all corporate benefits of promoters for not meeting minimum public shareholding (MPS)
Bars promoters, directors from dealing in securities of company
Restrains promoters, directors from holding any new position
Order shall come into force with immediate effect
Promoters, directors can file their replies within 21 days
Freezes 55.04 percent voting rights of promoters
Effective voting rights of company, Poddar Group capped at 33.72 percent
Freezes promoters’ rights till company complies with MPS norms.   

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