Securities Exchange Board of India vide circular dated 27th March 2020, has relaxed certain provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (SAST Regulations). The provisions have been relaxed due to COVID 19 Pandemic.
The due date of filing disclosures under Regulations 30(1), 30(2) and 31 (4) of the SAST Regulations which require shareholders to compile, collate and disseminate information of their consolidated shareholding to the company and the stock exchanges within seven working days from the end of the financial year, 31st March. These report as per the 2020 calendar were required to be filed by April 15, 2020. The due date is hereby extended to June 1, 2020.
The relaxations have been provided so as to curb COVID 19 Pandemic and for smooth functioning of the market.
Click here to read the Circular.
