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Disclosure under insider trading regulation, 2011

Others 1061 views 1 replies

Dipika Verma

Company Secretary

174 Points Joined May 2011

As per Regulation 13(4) and 13(4A) & 13(6) of SEBI (Insider Trading Regulation), 2011, it is mandatory for directors, promoters, and person belonging to promoter group to disclose, within two working days, any change in shareholding if such change exceeds Rs. 5 lakh in value or 25,000 shares or 1% of total shareholding or voting rights, whichever is lower.

Does Insider Trading Regulation contain any other continuous disclosure requirement if the disclosure on daily basis does not hit the limit prescribed under Regulation 13(4) & 13(4A)?

Replies (1)

CS Mitesh Mehta

Company Secretary

17139 Points Joined January 2009

Pursuant to Regulation 13(3), any person holding more than 5% shares or voting rights in any listed company shall disclose to the Company in Form -C, the number of shares or voting rights held and change in shareholding or voting rights. Such disclosure shall be made within 2 working days even if such change results in shareholding failing below 5%, if there has been change in such holding from the last disclosure made under sub-regulation (1) or under sub-regulation (3) and such change exceeds 2% of total shareholding or voting rights in the company.