Dear All
I have a query on SEBI (SAST).
A company is Listed in Kolkata Stock Exchange and the promoters holding is 54.5%. Now the promoters wish to transfer their entire holdings to 4 different entities which are mutually independent.
In the given situation every entity will hold less that 15% of the stake. So the Open Offer is not getting triggered. However the acquires are required to make disclosure under Regulation 7.
My query is whether apart from disclosure under Reg. 7, any other compliance is required? Pls throw light on Insider Trading Regulation and other applicable laws.
CAclubindia
