Period of 6 Months for Contra-Trade Restriction Under PIT Norms Is Calculated From Completion Date of Share Acquisition | SEBI Informal Guidance
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Informal Guidance No. SEBI/HO/ISD/ISD-PoD-2/P/ON/2024/25620/1, Dated: 09.08.2024
A listed company sought SEBI’s informal guidance on whether the date on which shares have been agreed to be acquired is the relevant date for computing 6 months in relation to contra-trade restriction as per Para 10 of Schedule B under Reg. 9(1) of SEBI (Prohibition of Insider Trading) Regulations, 2015. SEBI clarified that the relevant date for the computation of 6 months in relation to contra-trade restriction would be the date on which the acquisition/purchase of shares was completed.
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