Tuesday 30 August 2016
facebook.com/Outlookindia twitter.com/outlookindia digimag.outlookindia.com instagram.com/outlookindia youtube.com/user/OutlookMagazine

SEBI Demands PAC Details to Ensure Transparency

Mumbai

To ensure more transparency, listed companies will now be required to inform stock exchanges the details about the acquirer as well as persons acting in concert (PAC) while making annual shareholding disclosures.

However, such information should not be disseminated by the bourses to the general public, Securities and Exchange Board of India (Sebi) said today.

In a circular, the regulator said a company would have to make additional disclosures about the acquirer and PAC under Sebi (Substantial Acquisition of Shares and Takeovers) Regulations.

Besides, a firm would have to give information about the PAN (Permanent Account Number) details of the acquirer and PAC while making disclosures about their annual shareholding pattern. Also, the company needs to inform whether the acquirer belongs to a promoter entity.

Sebi said all this information shall be "disclosed to the stock exchanges but shall not be disseminated."

This circular would come into force with immediate effect.

According to norms, every entity is required to make yearly disclosures, within 21 days from the financial year ending March 31, to the stock exchanges with regard to its shareholding as of March 31.

READ MORE IN:
SECTION: Business
OUTLOOK 25 August, 2014
© Copyright PTI. All rights reserved. Republication or redistribution of any PTI content, including by framing or similar means, is expressly prohibited without their prior written consent.
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store

Post a Comment

You are not logged in, please Log in or Register
  • Daily Mail
THE LATEST ISSUE
CLICK IMAGE FOR CONTENTS
OUTLOOK ON TWITTER
POLLS

In 1999, India and France entered into a $3.5 billion deal for the supply of these submarines. The first of the 6 subs is out on sea trials for the last three months and is to be commissioned later this year. At this stage, a newspaper in Australia has revealed secret data on the submarines, plausibly stolen from India. Indian Defence authorities have ruled out any pilferage of data from India.

POLL STARTED ON: Aug 26, 2016
Quiz
Brazil’s Rio de Janeiro is hosting the 31st Olympic Games from August 5 to 21. This is the first Olympics being held in South America and is going on even as a majority Brazilians are unhappy with their rulers. Here’s a quiz on some random Olympic facts and related trivia.
QUIZ STARTED ON: Aug 11, 2016
Advertisement