Explain the provisions of continual disclosures under regulation 30 of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
CS Professional · Corporate Restructuring, Insolvency, Liquidation & Winding-up · PYQS · December 2024
Explain the provisions of continual disclosures under regulation 30 of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
Answer & Explanation:
Regulation 30 of SEBI (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations states that: Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise twenty-five per cent or more of the voting rights in a target company, shall disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may be specified. The promoter of every target company shall together with persons acting in concert with him, disclose their aggregate shareholding and voting rights as of the thirty-first day of March, in such target company in such form as may be specified. The disclosures required under sub-regulation (1) and sub-regulation (2) shall be made within seven working days from the end of each financial year to: every stock exchange where the shares of the target company are listed; and the target company at its registered office.
Topics: SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011
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