In one of my companies, promoters are holding 60% and now one the individual under promoter category wants to gift his 2% shareholding to daughter in law, wt compliances are required under the takeover regulations or insider trading. The concerned individual is not a director on Board. He is related to promoter of the company as brother.
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In my view daughter in law is not covered under the definition of promoters under takoever regulations..... and in this case the promoters holding shall fall down if the daughter in law is not covered under the shareholding pattern or any other document under promoter category.
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