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Revised Formats under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

Securities and Exchange Board of India (SEBI), vide Circular No. SEBI/HO/CFD/DCR1/CIR/P/2016/52 dated 02/05/2016 has revised formats under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Under Chapter V of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, disclosure requirements have been prescribed upon happening of certain changes in Shareholding, like in respect of acquisition made under Regulation 10(1)(a) of the Regulations, where as separate forms have been prescribed for reporting under Regulation 10(7) of the Regulation. Whereas separate forms have been prescribed for reporting under Regulation 10(7) of the said Regulation in respect of acquisitions made in reliance upon exemption provided under sub Clauses (i), (ii), (iii), (iv) & (v) of regulation (10) (1) (a); in respect of reporting compliance under chapter V of the regulation, no specific time period was mentioned in the formats. Therefore, with a view to bring them in line with the requirement under regulation (10) (1) (a), SEBI has prescribed reporting of compliance for a period of 3 years. Accordingly, the said formats have been modified and are given in the annexure to the aforesaid circular.

The said circular along with its annexure available at the following link: SEBI SAST Regulation 2011_SEBI-HO-CFD-DCR1-CIR-P-2016 52_02.05.2016

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