Need for compliance of SAST Regulations

    Posted By : Ekta / Published on : 08-Apr-2019 09:05 AM / View : 57 / Comment : 1
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    One promoter of a listed entity who was HUF got dissolved and transferred the shares due to the memorandum of family settlement to its coparceners who are existing promoters of a listed entity. The compliance with the SAST regulations was not done. Please advise what should be done now as the acquisition was done in February and it was without any consideration.
    Read more on : regulations sast compliance need

    • Dear Ma'am,

      For the above-mentioned transfer, you are exempted from making any disclosure compliances as per regulation 10(a)(ii) and 10(a)(iv) provided :

      HUF and its co-parceners have been promoter of the listed target company since last 3 years or

      CO- parceners of HUF (being PAC) have been members of HUF since last 3 years.

       

      11-04-2019 / 07:06:07 AM
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