SEBI Demands PAC Details to Ensure Transparency
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.
- Rate Cut Possible Only If Inflation Eases: Rajan
- Sindhu, Sakshi, Dipa Conferred Khel Ratna Along With Jitu Rai
- Curfew Lifted in Kashmir After 51 Days of Lockdown
- SC Pulls Up Azam Khan for Calling Bulandshahr Gangrape a 'Political Conspiracy'
- Submarine Data Leak Being Viewed 'Very Seriously': Navy chief
- Usain Bolt Won Nine Olympic Golds Because Of Beef: BJP MP
- Myntra Says It Wasn't Us But #BoycottMyntra Trends
- Javadekar Becomes Toast Of Twitter On Freedom Fighter Comment
- Manish Sisodia Sacks Hospital Employee For Watching Video While On Duty
- Daily Curator: Vijay Goel's Olympic Entourage Likened to 'Bullies'
- Daily Curator: Expectant Mothers To Now Get More Paid Leave
- The Torrent Phoenix Rises Again
- Racism Row After South Africa School Asks Girls to Straighten Hair
- Dana Majhi Takes Part in 'Padayatra' Organised by Congress
- NIA Summons Geelani's Elder Son for Questioning
- John Kerry Samples Delhi Traffic, Gets Stuck in Jam Due to Waterlogging
- EC Notice to Maharashtra BJP, 7 Other Parties for Not Filing Tax Returns
- Govt Defers Mega Spectrum Auction by 2 Days to Oct 1
- MOST VIEWED
- MOST COMMENTED