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TMI BlogAutomation of disclosure requirements under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011-System Driven Disclosures - Ease of doing businessX X X X Extracts X X X X X X X X Extracts X X X X ..... Share Transfer Agents Dear Sir / Madam, Subject: Automation of disclosure requirements under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011-System Driven Disclosures - Ease of doing business. 1. SEBI vide circulars dated December 01, 2015, December 21, 2016, May 28, 2018 and September 23, 2020 implemented the System Driven Disclosures (hereinafter referred to as "SDD" ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... physical form by the acquirer and/or PACs. c. 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. Disclosure of encumbered shares- Capturing ultimate lender 4. Promoters are required to file disclosures on reasons for encumbered shar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall necessarily be recorded in the depository system. ii. The depositories shall capture details of the ultimate lender along with name of the trustee acting on behalf of such ultimate lender such as banks, NBFCs, etc. In case of issuance of debentures, name of the debenture issuer shall be captured in the depository system. iii. The depositories shall now capture the reasons for encumbranc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted companies, stock exchanges and depositories at least once in a quarter or immediately whenever any discrepancy is noticed. 9. The provisions of this circular shall come into effect from July 01, 2022. 10. The stock exchanges, depositories and Registrar & Share Transfer Agents are advised to bring the provisions of this circular to the notice of the listed companies, their promoters and also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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