SEBI in order to ensure transparency and to promote orderly conduct of disclosures; vide its Circular No. CIR/CFD/DCR/17/2015 dated 01st December, 2015 have decided to adopt a system-driven disclosures in securities market in phased manner.
The disclosures in the first phase shall pertain to acquisition/disposal of equity shares by promoters/promoter group based on specified thresholds under the SAST Regulations and PIT Regulations and pledge of equity shares by promoters/promoter group under the SAST Regulations.
Initially, this system would run in parallel with the existing system i.e. the promoters/promoter group shall continue to comply with the disclosure obligations as applicable to them.
The first phase it to be implemented from 01.01.2016
The copy of the said circular containing the detailed procedure can be accessed at the following link: SEBI Circular No. CIR-CFD-DCR-17-2015 dated 01.12.2015