Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Promoters Must Disclose Shares Received in Gift: SEBI

Noting that this position is based on the information furnished, Sebi said, "different facts or conditions might lead to a different result".

PTI

Updated:May 8, 2017, 5:52 PM IST
facebookTwitterskypewhatsapp
Promoters Must Disclose Shares Received in Gift: SEBI
File photo of SEBI building.
Loading...

New Delhi: Promoters and directors of a listed company are required to disclose details about shares received by way of gift and through off-market transactions, according to regulator Sebi.

The clarifications have been given as part of an informal guidance sought by Kotak Mahindra Bank regarding certain aspects of the Prohibition of Insider Trading (PIT) regulations.

In case of bonus shares, or scrips received following a scheme of amalgamation or demerger, a separate disclosure is not required by promoters, directors and employees, Sebi said.

"... off market transaction or gift disclosure must be made in accordance with provisions of PIT (Prohibition of Insider Trading) regulations," it added.

Off market transactions include transfer of shares to a family trust account.

According to Sebi norms, promoters, employees and directors of a firm is required to disclose about the number of shares acquired or disposed, in case the value of such shares aggregates to over Rs 10 lakh during a quarter, to the company and exchanges within two trading days of such transaction.

The number of shares acquired or disposed beyond this threshold has to be disclosed irrespective of the mode of acquisition or disposal.

The regulator further said that the value of securities would be calculated on the prevailing market value -- the day they were acquired or disposed of.

PIT regulations are primarily aimed at preventing abuse by trading when in possession of unpublished price sensitive information.

Noting that this position is based on the information furnished, Sebi said, "different facts or conditions might lead to a different result".

"This letter does not express a decision of the board on the question referred," the regulator added.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Nakshab Khan
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 59.25 5.24
Indiabulls Hsg 467.85 3.84
Reliance 1,275.85 2.33
HDFC Bank 2,162.70 -0.52
ICICI Bank 395.40 -0.93
Company Price Change %Gain
Yes Bank 59.25 5.24
ICICI Bank 395.75 -0.85
Indiabulls Hsg 467.90 4.00
Bajaj Finance 3,175.35 1.85
Reliance 1,275.95 2.36
Top Gainers
Company Price Change %Gain
Zee Entertain 351.15 6.75
Vedanta 137.40 6.47
UPL 547.25 5.64
Yes Bank 59.25 5.24
BPCL 329.35 5.22
Company Price Change %Gain
Vedanta 137.50 6.55
Yes Bank 59.25 5.24
ONGC 122.30 4.66
M&M 533.10 4.09
Coal India 188.05 4.07
Top Losers
Company Price Change %Gain
IndusInd Bank 1,310.50 -1.88
ITC 236.10 -1.65
ICICI Bank 395.40 -0.93
Eicher Motors 15,383.45 -0.90
HUL 1,860.00 -0.65
Company Price Change %Gain
IndusInd Bank 1,310.35 -1.90
ITC 236.00 -1.71
ICICI Bank 395.75 -0.85
Power Grid Corp 201.40 -0.69
HUL 1,859.35 -0.69

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results