Automation of disclosure requirements under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

The SEBI vide circular dated March 07, 2022 has provided for Automation of disclosure requirements under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Transactions undertaken in the depository system under Regulation 29and Regulation 31of Takeover Regulations do not require manual filing except for the following transactions where disclosure shall continue to be filed:-

1. Triggering of disclosure requirement due to acquisition or disposal of the shares, as the case may be, by the acquirer together with persons acting in concert (PACs).
2. Triggering of disclosure requirement in case the shares are held in physical form by the acquirer and/or PACs.
3. Listed companies who have not provided PAN of promoter(s) including member(s) of the promoter group to the designated depository or companies which have not appointed any depository as their designated depository.