Transfer of shares by promoter

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2012 Hi,

Ours is a Public Listed CO., Promoter holds 49% shares. Now he wants to transfer 25% of his shares to another person.

1. What are the regulations to be complied in this transfer.
2. Should we include the transferee as promoter in the shareholding pattern to be submitted with stock exchanges every quarter.

Kindly advise.

Ajay Mishra

Ajay Mishra (Expert)
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28 February 2012 Hi

Whether it is in physical or in demat. Generally SEBI (Prohibition and Insider Treading) Regulation and under Regulation 7(3) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations is required to intimated to company and stock exchanges accordingly.

Regards

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