Securities and Exchange Board of India (“SEBI”) has amended the SEBI (Prohibition of Insider Trading) Regulations, 2015 vide a notification dated January 21, 2019, wherein ‘promoter group’ has been included in Regulation 7, pursuant to which now every ‘member of promoter group’ of a company whose securities are listed on any recognised stock exchange is required to disclose his holding of securities to the company upon becoming a promoter or member of promoter group. Further, in terms of continual disclosures, they are required to disclose the number of securities acquired or disposed off within 2 (two) days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions aggregates to a traded value in excess of 10 (ten) lakh rupees or such other value as may be specified.
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