PR No.58/2009
SEBI Board Meeting
SEBI makes it mandatory to disclose details of shares pledged by the promoters
To enhance the disclosure requirements, SEBI Board, in its meeting held today, decided to make it mandatory on the part of promoters (including promoter group) to disclose the details of pledge of shares held by them in listed entities promoted by them. Such disclosures shall be made as and when the shares are pledged (“event based disclosure”) as well as by way of periodic disclosures. Necessary steps to amend the relevant regulations and the listing agreement are being taken.
Details of pledge of shares and release/ sale of “pledged shares” shall be made to the company and the company shall in turn inform the same to the public through the Stock Exchanges.
Mumbai
January 21, 2009
