<p>New Delhi: Markets regulator Securities and Exchange Board of India (SEBI) on Thursday said that, starting immediately, reports related to certain exemptions in share acquisitions under the 'Takeover Regulations' can be submitted through both email and the newly-introduced intermediary portal.</p>.<p>This dual submission system will remain in place until May 14, 2025, after which only the online portal will be used for these filings, SEBI said in a circular.</p>.SEBI collaborates with DigiLocker to tackle unclaimed assets, streamline demat access.<p>Under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Takeover Regulations), an acquirer is required to submit a report along with supporting documents and non-refundable fee to SEBI in respect of any acquisition of or increase in voting rights pursuant to certain exemptions.</p>.<p>Currently, these reports are filed through email, but the regulator introduced an online system for filing of these reports through SEBI Intermediary Portal (SI Portal) in order to facilitate ease of operations in terms of submission and processing of these reports.</p>.<p>Accordingly, in the first phase, it has been decided to enable filing of two reports related to exemptions under the takeover rules, which waive the requirement for an open offer in certain acquisitions, can now be filed through both email and the SI Portal.</p>.<p>These exemptions apply to acquisitions resulting from the transfer of shares between immediate relatives or among individuals listed as promoters in the company's shareholding pattern for at least three years before the acquisition. In such cases, the acquirer is not required to make an open offer to other shareholders, provided that specific conditions are met.</p>.<p>This dual filing option will remain available until May 14, 2025, SEBI said adding, "after this date, only the online system will be allowed for these reports".</p>.<p>Additionally, payment of the required fees for these reports must be made through the SI Portal starting from the date of this circular. </p>
<p>New Delhi: Markets regulator Securities and Exchange Board of India (SEBI) on Thursday said that, starting immediately, reports related to certain exemptions in share acquisitions under the 'Takeover Regulations' can be submitted through both email and the newly-introduced intermediary portal.</p>.<p>This dual submission system will remain in place until May 14, 2025, after which only the online portal will be used for these filings, SEBI said in a circular.</p>.SEBI collaborates with DigiLocker to tackle unclaimed assets, streamline demat access.<p>Under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (Takeover Regulations), an acquirer is required to submit a report along with supporting documents and non-refundable fee to SEBI in respect of any acquisition of or increase in voting rights pursuant to certain exemptions.</p>.<p>Currently, these reports are filed through email, but the regulator introduced an online system for filing of these reports through SEBI Intermediary Portal (SI Portal) in order to facilitate ease of operations in terms of submission and processing of these reports.</p>.<p>Accordingly, in the first phase, it has been decided to enable filing of two reports related to exemptions under the takeover rules, which waive the requirement for an open offer in certain acquisitions, can now be filed through both email and the SI Portal.</p>.<p>These exemptions apply to acquisitions resulting from the transfer of shares between immediate relatives or among individuals listed as promoters in the company's shareholding pattern for at least three years before the acquisition. In such cases, the acquirer is not required to make an open offer to other shareholders, provided that specific conditions are met.</p>.<p>This dual filing option will remain available until May 14, 2025, SEBI said adding, "after this date, only the online system will be allowed for these reports".</p>.<p>Additionally, payment of the required fees for these reports must be made through the SI Portal starting from the date of this circular. </p>