(a) the estimated number of share holders in the country ;
(b) the steps taken by the Government to safeguard the interests of the share holders ;
(c) whether some suggestions have been received by the Government from public, MPs
and organisations during the last one year; and
(d) if so, the details thereof with the action taken thereon ?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) The Securities and Exchange Board of India (SEBI) has intimated that according to a study
conducted by SEBI, through the National Council of Applied Economic Research and published
in June, 2000, it was estimated that 7% of all Indian households representing approximately 18
million individual investors owned equity shares.
(b) The steps taken to protect the interests of shareholders, inter-alia, are that:
(i) SEBI has taken
several measures to give impetus to the dematenalisation of securities and trading of securities in
dematerialised form,
(ii) With the introduction of rolling settlement for trades, operational efficiency
has improved,
(iii) SEBI has issued public notice to educate and caution the investors about risk
associated with the investments in securities,
(iv) Under the investors` grievances redressal
mechanism established by SEBI, complaints received by SEBI from Investors against companies
are acknowledged and a reference number is sent to the complainant. These complaints are taken up
with the concerned companies/ taken on record for redressal. SEBI monitors redressal of grievances
periodically, until resolved.
(c) and (d) Government has received suggestions and representations from MPs and organisations
regarding protection of interests of share holders. These, inter-alia, include issues concerning SEBI
Takeover Code and delisting norms. SEBI has initiated appropriate action.