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1 SEBI SAST REGULATIONS 2011 on Wed 26 Mar 2014 - 12:13

priyankamanawat


Dear All

Our is a listed Company . One of the Private Limited Company has acquired 2.17 % shares in our Company. We have similar director in both the Company.

Do we need to include name of the private company in Promoter and Promoter Group while filing shareholding pattern. or the disclosure is required under regulation 30(2) of SEBI SAST Regulations 2011...???

Plz Help

Regards
Priyanka

2 Re: SEBI SAST REGULATIONS 2011 on Thu 27 Mar 2014 - 14:38

yatin


CSoC Smart User
CSoC Smart User
Dear Priyanka,

Kindly read this definition of Promoter for clarification of your query.

“promoter” includes:
(i)the person or persons who are in control of the issuer;

(ii)the person or persons who are instrumental in the formulation of a plan or programme pursuant to which specified securities are offered to public;

(iii)the person or persons named in the offer document as promoters:

Provided that a director or officer of the issuer or a person, if acting as such merely in his professional capacity, shall not be deemed as a promoter:

Provided further that a financial institution, scheduled bank, foreign institutional investor and mutual fund shall not be deemed to be a promoter merely by virtue of the fact that ten per cent. or more of the equity share capital of the issuer is held by such person;

Provided further that such financial institution, scheduled bank and foreign institutional investor shall be treated as promoter for the subsidiaries or companies promoted by them or for the mutual fund sponsored by them;

“promoter group” includes:

(i)the promoter;

(ii)an immediate relative of the promoter (i.e., any spouse of that person, or any parent, brother, sister or child of the person or of the spouse); and

(iii)in case promoter is a body corporate:

(A)a subsidiary or holding company of such body corporate;

(B)any body corporate in which the promoter holds ten per cent. or more of the equity share capital or which holds ten per cent. or more of the equity share capital of the promoter;

(C)any body corporate in which a group of individuals or companies or combinations thereof which hold twenty per cent. or more of the equity share capital in that body corporate also holds twenty per cent. or more of the equity share capital of the issuer; and

(iv)in case the promoter is an individual:

(A)any body corporate in which ten per cent. or more of the equity share capital is held by the promoter or an immediate relative of the promoter or a firm or Hindu Undivided Family in which the promoter or any one or more of his immediate relative is a member;

(B)any body corporate in which a body corporate as provided in(A) above holds ten per cent. or more, of the equity share capital;

(C)any Hindu Undivided Family or firm in which the aggregate shareholding of the promoter and his immediate relatives is equal to or more than ten per cent. of the total; and

(v)all persons whose shareholding is aggregated for the purpose of disclosing in the prospectus under the heading "shareholding of the promoter group":

Provided that a financial institution, scheduled bank, foreign institutional investor and mutual fund shall not be deemed to be promoter group merely by virtue of the fact that ten per cent. or more of the equity share capital of the issuer is held by such person:

Provided further that such financial institution, scheduled bank and foreign institutional investor shall be treated as promoter group for the subsidiaries or companies promoted by them or for the mutual fund sponsored by them;

If you have any further doubt then you can put queries.

3 SEBI (SAST) Regulations, 2011 on Fri 28 Mar 2014 - 19:42

rchgiri

avatar
CSoC King
CSoC King
Dear CS Priyanka,

My reply is No.

In addition to the reply of CS Yatin, you can visit the following link

[You must be registered and logged in to see this link.]

for the details relating to various disclosure under the SEBI (SAST) Regulations, 2011.

Wish you a happy reading.

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