Revised disclosure formats under Regulation 7 of SEBI (Prohibition of Insider Trading) Regulations, 2015
Securities and Exchange Board of India (SEBI) has issued circular no. SEBI/HO/ISD/ISD/CIR/P/2021/19 dated February 9, 2021 regarding revised disclosure formats under Regulation 7 of SEBI (Prohibition of Insider Trading) Regulations, 2015.
Under Regulation 7 of SEBI (Prohibition of Insider Trading) Regulations, 2015, following disclosures are to be made :
(1) Initial Disclosures.
(a). Every promoter, member of the promoter group, key managerial personnel and director of every company whose securities are listed on any recognized stock exchange shall disclose his holding of securities of the company as on the date of these regulations taking effect, to the company within thirty days of these regulations taking effect;
(b). Every person on appointment as a key managerial personnel or a director of the company or upon becoming a promoter or member of the promoter group shall disclose his holding of securities of the company as on the date of appointment or becoming a promoter, to the company within seven days of such appointment or becoming a promoter.
(2) Continual Disclosures.
(a). Every promoter, member of the promoter group, designated person and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of Ten lakh rupees or such other value as may be specified;
(b). Every company shall notify the particulars of such trading to the stock exchange on which the securities are listed within two trading days of receipt of the disclosure or from becoming aware of such information.
(c) The above disclosures shall be made in such form and such manner as may be specified by the Board from time to time.
Disclosures by other connected persons.
(2) Any company whose securities are listed on a stock exchange may, at its discretion require any other connected person or class of connected persons to make disclosures of holdings and trading in securities of the company in such form and at such frequency as may be determined by the company in order to monitor compliance with these regulations.
In light of amendments to the PIT Regulations effecting the inclusion of member of the promoter group, and designated person in place of employee, in Regulation 7 of PIT Regulations; and on the basis of feedback received the disclosure formats are revised and are annexed as follows.
FORM B
SEBI (Prohibition of Insider Trading) Regulations, 2015 [Regulation 7 (1) (b) read with Regulation 6(2) – Disclosure on
Becoming a Key Managerial Personnel/Director/Promoter/Member of the promoter group]
Name of the company:
ISIN of the company:
Details of Securities held on appointment of Key Managerial Personnel (KMP) or Director or upon becoming a Promoter or member of the promoter group of a listed company and immediate relatives of such persons and by other such persons as mentioned in Regulation 6(2).
| Name, PAN, CIN/DIN & Address with contact nos. | Category of Person (KMP / Director or Promoter or member of the promoter group/ Immediate relative to/others, etc.) | Date of appointment of KMP / Director / OR Date of becoming Promoter/ member of the promoter group | Securities held at the time of appointment of KMP / Director or upon becoming Promoter or member of the promoter group | % of Sharehold-ing | |
| Type of securities (For eg. – Shares, Warrants, Convertible Debentures, Rights entitlements, etc.) | No. | ||||
| 1 | 2 | 3 | 4 | 5 | 6 |
Note: “Securities” shall have the meaning as defined under regulation 2(1)(i) of SEBI (Prohibition of Insider Trading) Regulations, 2015.
Details of Open Interest (OI) in derivatives on the securities of the company held on appointment of KMP or Director or upon becoming a Promoter or member of the promoter group of a listed company and immediate relatives of such persons and by other such persons as mentioned in Regulation 6(2).
| Open Interest of the Future contracts held at the time of appointment of Director / KMP or upon becoming Promoter / member of the promoter group | Open Interest of the Option Contracts held at the time of appointment of Director / KMP or upon becoming Promoter / member of the promoter group | ||||
| Contr-act specifi-cations | Number of units (contracts * lot size) | Notion-al value in Rupee terms | Contract specific-ations | Number of units (contracts * lot size) | Notion-al value in Rupee terms |
| 7 | 8 | 9 | 10 | 11 | 12 |
Note: In case of Options, notional value shall be calculated based on premium plus strike price of options
Name & Signature:
Designation:
Date:
Place:
FORM C
SEBI (Prohibition of Insider Trading) Regulations, 2015
[Regulation 7 (2) read with Regulation 6(2) – Continual Disclosure]
Name of the company:
ISIN of the company:
Details of change in holding of Securities of Promoter, Member of the Promoter Group, Designated Person or Director of a listed company and immediate relatives of such persons and other such persons as mentioned in Regulation 6(2).
| Name, PAN, CIN/DIN, & address with contact nos. | Category of Person (Promoter/ member of the promoter group/ designated person / Directors/ immediate relative to/ others etc.) | Securities held prior to acquisition / disposal | |
| Type of securities (For eg. – Shares Warrants, Convertible Debentures, Rights entitlements etc.) | No. and % of share holding | ||
| 1 | 2 | 3 | 4 |
–
| Securities acquired / Disposed | Securities held post acquisition/ disposal | ||||
| Type of securities (For eg. – Shares, Warrants, Convertible Debentures, Rights entitlement, etc.) | No. | Value | Transaction Type (Purchase / sale Pledge /Revocation /Invocation /Others-please specify) | Type of securities (For eg. – Shares, Warrants, Convertible Debentures, Rights entitlement, etc.) | No. and % of shareholding |
| 5 | 6 | 7 | 8 | 9 | 10 |
–
| Date of allotment advice/ acquisition of shares/ disposal of shares, specify | Date of intimation to company | Mode of acquisition /disposal (on market/ public/ rights/ preferential offer/ off market/ Inter-se transfer, ESOPs, etc.) | Exchange on which the trade was executed | |
| From | To | |||
| 11 | 12 | 13 | 14 | 15 |
Note: (i) “Securities” shall have the meaning as defined under regulation 2(1)(i) of SEBI (Prohibition of Insider Trading) Regulations, 2015.
(ii) Value of transaction excludes taxes/brokerage/any other charges
Details of trading in derivatives on the securities of the company by Promoter, member of the promoter group, designated person or Director of a listed company and immediate relatives of such persons and other such persons as mentioned in Regulation 6(2).
Trading in derivatives (Specify type of contract, Futures or Options etc.) |
Exchange on which the trade was executed |
|||||
Type of contract |
Contract specifications |
Buy |
Sell |
|||
Notional Value |
Number of units (contracts * lot size) |
Notional Value |
Number of units (contracts * lot size) |
|||
16 |
17 |
18 |
19 |
20 |
21 |
22 |
Note: In case of Options, notional value shall be calculated based on Premium plus strike price of options.
Name & Signature:
Designation:
Date:
Place:
FORM D (Indicative format)
SEBI (Prohibition of Insider Trading) Regulations, 2015
Regulation 7(3) – Transactions by Other connected persons as identified by the company Details of trading in securities by other connected persons as identified by the company
| Name, PAN, CIN/DIN, & address with contact nos. of other connected persons as identified by the company | Connect ion with company | Securities held prior to acquisition/disposal | |
| Type of securities (For eg. – Shares, Warrants, Convertible Debentures, Rights entitlement, etc.) | No. and % of shareholding | ||
| 1 | 2 | 3 | 4 |
–
| Securities acquired/Disposed | Securities held post acquisition/disposal | ||||
| Type of securitie s (For eg. – Shares, Warrants Converti le Debentur es, Rights entitlement, etc.) | No. | Value | Transaction Type (Purchase / Sale / Pledge/ Revocation / Invocation/ Others- please specify) | Type of securities (For eg. – Shares, Warrants, Convertible Debentures, Rights entitlement, etc.) | No. and % of share holding |
| 5 | 6 | 7 | 8 | 9 | 10 |
–
| Date of allotment advice/ acquisition of shares/ disposal of shares specify | Date of intimation to company | Mode of acquisition/ disposal (on market/ public/ rights/ Preferential offer / off market/ Interse transfer, ESOPs etc. ) | Exchange on which the trade was executed | |
| From | To | |||
| 11 | 12 | 13 | 14 | 15 |
Note: (i) “Securities” shall have the meaning as defined under regulation 2(1)(i) of SEBI (Prohibition of Insider Trading) Regulations, 2015.
(ii) Value of transaction excludes taxes/brokerage/any other charges
Details of trading in derivatives on the securities of the company by other connected persons as identified by the company
Trading in derivatives (Specify type of contract, Futures or Options etc.) |
Exchange on which the trade was executed |
|||||
Type of Contract |
Contract specifications |
Buy |
Sell |
|||
Notional Value |
Number of units(contracts * lot size) |
Notional Value |
Number of units (contracts * lot size) |
|||
16 |
17 |
18 |
19 |
20 |
21 |
22 |
Note: In case of Options, notional value shall be calculated based on premium plus strike price of options.
Name:
Signature:
Place:
Author Bio
