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SEBI Circular No. SEBI/HO/CFD/DCR-2/CIR/P/2020/164 dated 03.09.2020

The Guideline has been issued with reference to SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, also called the Takeover Regulations. Two key provisions have been highlighted and amended. Firstly, all shares taken by way of encumbrance will be treated as an acquisition and disposal of shares in the same manner shall be treated as a disposal. Secondly, Disclosures under Regulation 29(4) of the Takeover Regulations were required for the shares deposited with the Trading Member (Stockbroker). The aforesaid Disclosures have been dispensed with, in line with making the Regulations easier for operating businesses and operations.

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