![]() ![]() However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. At-a-glanceīBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment. We are also setting aside additional time for our senior community engagement specialist to focus on reviews in order to provide thorough and timely responses, as well as pursuing additional staffing support in this area. Other channels, such as email, will begin to see their impacts over the next few months. We have brought on additional staffing that are currently going through training steps, but they are already helping us to more quickly respond to our customers via phone channels. We continue to work towards improving our overall service level and response times. Significant reorganization of our operating structure resulted in an unfortunate backlog of customer inquiries and requests. In August of 2022, Shift underwent a reduction in workforce in order to better focus on our strengths as a company. Shift Technologies treats customer interactions and concerns as the utmost in importance, and we regret the recent trends that have surfaced in our reviews. BBB reached out to Shift Technologies and they responded with the following: Complainants also state delays in waiting for refunds. The pattern found is consumers get no response when contacting customer service to resolve issues. Based on BBB files the company has a pattern of complaints. ![]() A review of complaints was done in November 2022. The regulator has also approved the merger of SEBI (Issue of Sweat Equity) Regulations and SEBI (Share Based Employee Benefits) Regulations into a single regulation called the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.Shift Technologies Inc. SEBI has also simplified and rationalised certain regulatory framework for AIF in terms of investment norms. The regulator has also done away with the provision that entities that acquire between 2 per cent and 5 per cent in a stock exchange have to get a post-facto approval from SEBI to ensure that they comply with the 'fit & proper' criteria. The obligation for disclosures in such cases would be done away with effect from Apas system-driven processes disseminate such information on the stock exchanges. Recently, SEBI chairman Ajay Tyagi had said that the regulator is mulling on this issue as even though there are many instances of concentrated ownership in India, many of the new-age entities that have VC or PE funding have a diversified shareholding with professional management and no promoters as such.Īmong other decisions, the board of the capital markets regulator also relaxed the disclosure obligations for entities that acquire or sell shares aggregating to 5% in a year or any change in excess of 2 per cent thereafter. The watchdog will engage with other regulatory bodies and deliberate on this matter further before suggesting a roadmap for the shift to the new system. The board of the regulatory body gave its in-principle approval for a shift from the promoter concept to 'person in control' or 'controlling shareholders' regime, which is the norm in most of the developed markets. The IPO of CarTrade Tech, which operates CarWale, will open for subscription next week.Īlso read: India may soon have Silver ETFs SEBI considers plan While Zomato listed recently on the stock exchanges, the near future would see entities like PayTM, Mobikwik, Nykaa and PolicyBazaar, among others, launch their IPOs. This assumes significance as many start-ups and unicorns are looking to list in the Indian stock market and the list of their shareholders typically comprise venture capital and private equity players along with AIFs. Interestingly, entities like Venture Capital Fund, Alternative Investment Fund (AIF) of category I or Category II along with a Foreign Venture Capital Investor can now sell their shares after six months of acquisition instead of the current stipulated one year. Currently, such allotments are locked-in for one year. The regulator has also provided relaxations to the non-promoter shareholders of IPO-bound companies with the lock-in of pre-IPO allotments brought down to six months from the date of allotment. Also read: Six more firms get SEBI's nod to float IPO ![]()
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