Driven by excellence, focused on strategies for the longer term.

This is the crux of who we are. It is an articulation of precision in purpose, from the Firm’s beginnings to where we are today. Our collective eye is unerringly trained on tomorrow.

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Our insistence on strategic advisory exacts an in-depth understanding of and involvement with our clients’ businesses and industries. We engage not just individual businesses, but also contribute to the country’s legal and regulatory frameworks.

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Our undertakings for long-term impact are an organic extension of our purpose.

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This is a repository of thought leadership, deep insights and strong viewpoints, legal and other news and events and how they impact the industry and our clients.

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Amplifying intrinsic talent, sharpening skills, expanding knowledge, is vital to leading. It defines every aspect of how our firm functions and transacts. This is how we create new benchmarks and set industry standards.

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Sep 30, 2020

Dispensation from Disclosure of Margin Pledge Created in Depository System

Regulation 29(4) of the Takeover Regulations requires that for the purposes of disclosure under Regulations 29(1) and (2), shares taken by way of encumbrance are to be treated as an acquisition, shares given upon release of encumbrance are to be treated as a disposal, and disclosures are required to be made accordingly. By its Circular dated September 2, 2020, SEBI has dispensed with the requirement to make disclosures under Regulation 29(4) of the Takeover Regulations in relation to shares encumbered with trading member/ clearing member as collateral from clients for margin obligation in the ordinary course of stock broking business.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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