 "illustration")
The Securities and Exchange Board of India (Sebi) plans to roll out a new regulatory framework for registrar and transfer agents (RTAs) –the market intermediaries responsible for the record-keeping of bondholders and shareholders after a company offers securities to the public.
The markets regulator, sources said, is considering a multifold increase in net-worth requirement, a move that may dissuade companies from having in-house RTAs for record-keeping.
At present, the minimum net worth required for RTAs is Rs 50 lakh and Rs 25 lakh in categories I and II, respectively. The net worth requirement could be increased to Rs 10 crore for qualified RTAs and Rs 5 crore for other RTAs.
