March 07, 2022
To
All listed entities
Recognized Stock Exchanges
Registered Depositories
Registered Registrar & Share Transfer Agents
Dear Sir / Madam,
1. SEBI vide circulars dated December 01, 2015, December 21, 2016, May 28, 2018 and September 23, 2020 implemented the System Driven Disclosures (hereinafter referred to as “SDD”) in phases.
2. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as “Takeover Regulations”) were amended vide Gazette Notification No. SEBI/LAD-NRO/GN/2021/46 dated August 13, 2021 doing away with manual filing for most of the transactions with effect from April 01, 2022.
- 3. Thus transactions undertaken in the depository system under Regulation 29 and Regulation 31 of Takeover Regulations do not require manual filing except for the following transactions where disclosure shall continue to be filed:-
- a. Triggering of disclosure requirement due to acquisition or disposal of the shares, as the case may be, by the acquirer together with persons acting in concert (PACs).
- b. Triggering of disclosure requirement in case the shares are held in physical form by the acquirer and/or PACs.
- c. Listed companies who have not provided PAN of promoter(s) including member(s) of the promoter group to the designated depository or companies which have not appointed any depository as their designated depository.
To Read More….
Click the link below….
https://www.dropbox.com/s/wp8n2mf2z7or02f/1646661913613.pdf?dl=0