Question
Consider the following statements with respect to the
one time exemption given to the Life Insurance Corporation- I.Life Insurance Corporation of India (LIC) has been given a one-time exemption from the 25 per cent public shareholding rule by the Ministry of Finance. II.A listed entity with a market cap of more than Rs 1 trillion needs to reach this 25 percent public shareholding. III.Moreover, the 25 per cent minimum public shareholding threshold should be attained within three years of listing. Which of the following is/are TRUE ?Solution
Life Insurance Corporation of India (LIC) has been given a one-time exemption from the 25 per cent public shareholding rule by the Ministry of Finance.The rule says a listed entity with a market cap of more than Rs 1 trillion needs to reach the 25 per cent minimum public shareholding threshold within five years of listing.
The statutory body which is not under Ministry of Commerce and Industries?
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