SEBI (SAST) REGULATIONS, 2011
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REGULATION 30(1) AND 30(2) – Disclosure of Promoters’ Shareholding |
Within 7 working days from the end of Financial Year |
30(1) says that every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise twenty-five per cent (25%) 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.
30 (2) says that 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 a target company in such form as may be specified.
The disclosures required under sub-regulation (1) and sub-regulation (2) shall be made within seven (7) working days from the end of each financial year to;
- every stock exchange where the shares of the target company are listed; and
- the target company at its registered office.
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