SEBI (SAST) Regulation

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Company Secretary
140 Points Joined December 2009

Dear Members,


There are two companies namely 'Company A' (Unlisted closely held public company)  and 'Company B' (Listed in BSE) . 'Company A'  is one of the promoters of 'Company B'. 

Company B's (Listed Company) paid up capital is 13,80,00,000 The promoter company (Company A) sold 10,000 shares of 'Company B' .

Now my question is, 

  1. Is there any disclosure requirement to the stock exchange?
  2. If so under what regulation.
Kindly express your views.

Thanks and Regards
VINAY B L
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On 28 January 2011 at 13:50 Report
Replies (5)
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Company Secretary
140 Points Joined December 2009

Face value of the shares is Rs. 10/-. 

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On 28 January 2011 at 13:51
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Service
1368 Points Joined January 2009

Hi,

Assuming trading window is open, no disclosure required.

 

Regards

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On 28 January 2011 at 14:41
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COMPANY SECRETARY NCFM (Corporate Gover
664 Points Joined October 2008

You have to make discolsure under Insider Trading Regulation.

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On 29 January 2011 at 11:28
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Company Secretary & Compliance Officer
17858 Points Joined November 2008

What is the holding of Company A???????

 

Depending on that the disclosures under Takeover Code and Insider Trading are to be made.


Under Insider Trading:- If the person holds more than 5 % shares or voting rights in any listed company, shall disclose to the company in form C the number and voting right, even such change results in shareholding falling below 5%, if the change exceeds 2% of total shareholding or voting rights in the company.

Therefore in your case under insider trading no disclosure is required to be made.


Under Takeover Code:- Generally no disclosure for transfer of 0.072% shares but depends to whom the shares have been  transferred.

2 Reply
On 29 January 2011 at 13:49
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Company Secretary
140 Points Joined December 2009

Thank you all for the reply

Regards

VINAY B L

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On 29 January 2011 at 13:54


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