The Securities and Exchange Board of India vide its notification dated 9th September 2020, based on the discussions held with the Stock Exchanges and Depositories, has now decided to implement the system driven disclosures for member(s) of promoter group and designated person(s) in addition to the promoters and directors of company under Regulation 7(2) of PIT Regulations.
The system would continue to run parallel with the existing system i.e. entities shall continue to independently comply with the disclosure obligations under PIT Regulations as applicable to them till 31st March 2021 and the depositories and Stock Exchanges shall make necessary arrangements such that the disclosures pertaining to PIT Regulations are disseminated on the websites of respective stock exchanges with effect from 1st October 2020.
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