The Securities and Exchange Board of India (SEBI) vide circular dated 25th August, 2014 has issued revised disclosure format for reporting under Regulation 30 of SEBI ( Substantial Acquisition of shares & Takeover) Regulations, 2011.
This circular shall come into force with immediate effect.
Regulation 30 of SEBI ( Substantial Acquisition of shares & Takeover) Regulations, 2011 which requires:
(1) Every person, who together with persons acting in concert with him, holds shares or
voting rights entitling him to exercise twenty-five per cent or more of the voting
rights in a target company, shall disclose their aggregate shareholding and voting
rights as of the thirty-first day of March, in such target company in such form as may
be specified.
(2) The promoter of every target company shall together with persons acting in concert
with him, disclose their aggregate shareholding and voting rights as of the thirty-first
day of March, in such target company in such form as may be specified.
(3) The disclosures required under sub-regulation (1) and sub-regulation (2) shall be
made within seven working days from the end of each financial year to,”
(a) every stock exchange where the shares of the target company are listed; and
(b) the target company at its registered office.
