Applicability of SAST

Hello Frnds..

Please help me out.. 

In a listed Company a shareholder ABC HUF, where ABC is a karta and also a executive director & promoter of the company. Now after partition of HUF, Director wants to have these shares in his own name as individual capacity...

Now,would the partition of HUF and getting shares in his own account attracts the disclosure requirement of SAST rules?? considering his shareholding presently is more than 5%.... and can it be exempt under various exemptions available.??

Director's view is there is no requirement of disclosures as shares are already held by me and its just consolidation of 2 accounts in one and owner is same..

Please guide...

Thank u in advance...