SEBI vide its circular number SEBI/HO/CFD/CMD1/CIR/P/2018/0000000149 dated December 7, 2018 issued this circular in exercise of the powers conferred under Section 11 and Section 11A of the Securities and Exchange Board of India Act, 1992 read with Regulation 31 and Regulation 101(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, in the in the interest of transparency.
This circular is in furtherance to the previous circulars and notifications (SEBI Circular No. CIR/CFD/CMD/13/2015 and Companies (Significant Beneficial Owners) Rules, 2018 notified June 2018 by the Ministry of Corporate Affairs). SEBI clarified and laid down specific disclosures with respect to the shareholding pattern to determine the significant beneficial ownership.
- Modification: The format specified in the Annexure to the circular shall be Table V under clause 5 of the format of holding of specified securities specified in the circular No. CIR/CFD/CMD/13/2015 dated November 30, 2015.
- Disclosure: contents of the circular to be brought to notice of all listed entities and onus on stock exchange to disseminate this information though notice and publication in website
- Annexure contains details of-
- (i) Significant Beneficial Owner (Name, PAN, Nationality)
- (ii) Registered Owner (Name, PAN, Nationality)
- (iii) Particulars of shares held by significant beneficial owner which amount to significant beneficial ownership (the quantum of shares in the form of – exact number, percentage of the total number of shares)
- (iv) Date of creation of Significant beneficial interest (/acquisition of the shares)
The manner of disclosure, as specified in the Annexure (tabular form) to the circular, will come to force from the quarter ending 31 March 2019.