SEBI (Securities Exchange Board of India) has made an amendment in the format of disclosures required under Reg. 30(1) and 30(2) of the SEBI (Substantial acquisition and take over) Regulations 2009.
Regulation 30 (1) states that any person who can exercise 25% or more of the voting right in a listed company shall disclose as of 31st March of the year, the aggregate shareholding and voting rights in the format prescribed. The 25% of the voting rights shall be reckoned after taking into account the voting rights held by other persons acting in concert.
Regulation 30(2) states that every promoter shall disclose as of 31st March of the year, the aggregate shareholding and voting rights after taking into account the other persons acting in concert in the format prescribed.
Both the above information shall be as on 31st March and shall be disclosed within 7 days from 31st March of the year. This information shall be disclosed to –
- Stock exchange on which the company is listed
- Listed company at its registered office
The Format of disclosure has been modified by SEBI in its circular dated 25th August, 2014 which is given at SEBI CIRCULAR – SAST 25082014
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CS Riddhi Patel – Practicing Company Secretary