Mar 14, 2019

Update Alert! Extension in timeline for Disclosure of Beneficial Owner in Shareholding Pattern by the listed entities

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Ministry of Corporate affairs (“MCA”) vide its notification dated June 13, 2018 enforced the provisions of the amended Section 90 of the Companies Act, 2013 and also issued the Companies (Beneficial Interest and Significant Beneficial Interest) Rules, 2018 (“SBO Rules”)  in relation to the determination of Significant Beneficial Owner (“SBO”).

Further, in line with the MCA notification and in the interest of the shareholders to bring more transparency, SEBI vide its circular date December 07, 2018 introduced the requirement of disclosure pertaining to SBO in the shareholding pattern which was applicable for the quarters from March 31, 2019.

Thereafter, considering various practical difficulties in implementing the provisions of the SBO rules, MCA revised the SBO rules vide its notification dated February 08, 2019 in order to facilitate better implementation of the provisions.


SEBI after considering the aforementioned revised SBO rules, vide circular dated March 12, 2019 revised the format of disclosure of SBO in the Shareholding pattern as per Regulation 31 of SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 and granted relaxation to the listed entities by extending the timelines of the disclosure of the same in SHP from the quarter ended March 31, 2019 to June 30, 2019.

The new format of SHP shall be as follows:

Format of holding of specified securities
Table-I Summary statement showing holding of specified securities of the Listed Entity
Table-II Statement showing holding of specified securities of the Promoter and Promoter Group
Table-IIII Statement showing holding of specified securities of the public shareholders
Table-IV Statement showing holding of specified securities of the Non Promoter- Non Public shareholder
Table-V Statement showing details of Significant Beneficial Ownership – Newly Inserted- w.e.f. Quarter ended June 30, 2019

Details of the Significant Beneficial Owner (SBO)
Details of the registered owner
  Details of holding/ exercise of right of the SBO in the reporting company, whether direct or indirect*:
Date of
creation/ acquisition of significant beneficial interest
   Name Pan/Passport no. in case of foreign national Nationality  Name Pan/Passport no. in case of foreign national Nationality Whether by Virtue of:  
Voting Rights
Rights on Distributable or any other distribution  
Exercise of Control    
Exercise of Significant influence    

Click here for the copy of circular

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