valid as on 01/12/2024

Regulation 7. Disclosures by certain persons.
Effective date 15.05.2015

1. Initial Disclosures.

Every promoter, , key managerial personnel and director of every company whose securities are listed on any recognised stock exchange shall his holding of securities of the company as on the date of these regulations taking effect, to the company within thirty days of these regulations taking effect;

b. Every person on appointment as a key managerial personnel or a director of the company or upon becoming a promoter shall   his holding of securities of the company as on the date of appointment or becoming a promoter , to the company within seven days of such appointment or becoming a promoter .

2. 

Every promoter,  employee and director of every company shall   to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees or such other value as may be specified;

  Every shall notify the particulars of such trading to the stock exchange on which the securities are listed within two trading days of receipt of the disclosure or from becoming aware of such information.
Explanation. — It is clarified for the avoidance of doubts that the disclosure of the incremental transactions after any disclosure under this sub-regulation, shall be made when the transactions effected after the prior disclosure cross the threshold specified in clause (a) of sub-regulation (2).

The above disclosures shall be made in such form and such manner as may be specified by the Board from time to time.

3. Disclosures by other connected persons

a. Any company whose securities are listed on a stock exchange may, at its discretion require any other connected person or class of connected persons to make disclosures of holdings and trading in securities of the company in such   and at such frequency as may be determined by the company in order to monitor compliance with these regulations.

NOTE: This is an enabling provision for listed companies to seek information from those to whom it has to provide unpublished price sensitive information. This provision confers discretion on any company to seek such information. For example, a listed company may ask that a management consultant who would advise it on corporate strategy and would need to review unpublished price sensitive information, should make disclosures of his trades to the company.

Disclosure formats issued vide CIR/ISD/01/2015 and Disclosure formats revised vide circular CIR/ISD/02/2015 dated 16.09.2015. To view the clarification,Click Here
Omitted vide Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2021 dated 26.04.2021. To view the notification, Click Here
Inserted vide The Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 dated 21.01.2019. To view the notification Click Here
In Form A. To view the form,Click Here
Substituted vide the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 dated 21.01.2019. To view the notification Click Here
  1. Refer SEBI Master Circular dated 23.09.2024 on surveillance of securities market. To view the Master Circular, Click here.
  2. Refer SEBI Master Circular dated 09.07.2024 on surveillance of securities market. To view the Master Circular, Click here.
  3. Refer SEBI Master Circular dated 23.03.2023 on surveillance of securities market. To view the Master Circular, Click here.
  4. Form B revised w.e.f. 09.02.2021. To view the form, Click Here & to view the circular dated 09.02.2021, Click Here
  5. In Form B. To view the form,Click Here
Substituted vide the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 dated 21.01.2019. To view the notification Click Here
Substituted vide the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 dated 21.01.2019. To view the notification Click Here
  1. Refer SEBI Master Circular dated 23.09.2024 on surveillance of securities market. To view the Master Circular, Click here.
  2. Refer SEBI Master Circular dated 09.07.2024 on surveillance of securities market. To view the Master Circular, Click here.
  3. Refer the comprehensive FAQs on SEBI (PIT) regulations, 2015 issued by SEBI dated 31.03.2023. To view the FAQs, Click here.
  4. Refer SEBI Master Circular dated 23.03.2023 on surveillance of securities market. To view the Master Circular, Click here.
  5. Refer SEBI Circular-System driven disclosures for inclusion of listed Debt Securities dated 16.06.2021. To view the circular, Click Here
  6. BSE & NSE have issued FAQ’s dated 28.01.2021 on System Driven Disclosures. To view the circular issued by NSE, Click Here
  7. Implementation of SEBI Circular regarding Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 – System driven disclosures has been extended to 30.09.2020.To view the circular, Click Here
  8. Refer SEBI Circular dated 09.09.2020 regarding Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 – System driven disclosures w.e.f. 18.09.2020. To view the circular, Click Here
Refer SEBI Circular on Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 – System driven disclosures dated 13.08.2021. To view the circular, Click Here
Substituted vide Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018 dated 31.12.2018. To view the notification, Click Here
Substituted vide the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 dated 21.01.2019. To view the notification Click Here
  1. Form C revised w.e.f. 09.02.2021. To view the form, Click Here & to view the circular dated 09.02.2021, Click Here
  2. In Form C. To view the form,Click Here and refer Circular No. SEBI/HO/CFD/DCR1/CIR/P/2018/85 dated 28.05.2018. To view the circular,Click Here
Refer SEBI Circular on Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 – System driven disclosures dated 13.08.2021. To view the circular, Click Here
Refer Circular No. SEBI/HO/CFD/DCR1/CIR/P/2018/85 dated 28.05.2018. To view the circular, Click Here
Inserted vide Securities and Exchange Board Of India (Prohibition Of Insider Trading) (Amendment) Regulations, 2020 dated 17.07.2020. To view the notification,Click Here
  1. Refer SEBI Master Circular dated 23.09.2024 on surveillance of securities market. To view the Master Circular, Click here.
  2. Refer SEBI Master Circular dated 09.07.2024 on surveillance of securities market. To view the Master Circular, Click here.
  3. Refer SEBI Master Circular dated 23.03.2023 on surveillance of securities market. To view the Master Circular, Click here.
  4. Form D revised w.e.f. 09.02.2021. To view the form, Click Here & to view the circular dated 09.02.2021, Click Here
  5. In Form D. To view the form,Click Here

Securities and Exchange Board Of India (Prohibition Of Insider Trading) (Amendment) Regulations, 2020 dated 17.07.2020


Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2021 dated 26.04.2021


The Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018 dated 31.12.2018


The Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019 dated 21.01.2019


Circular on System-driven Disclosures in Securities Market vide Circular No. SEBI/HO/CFD/DCR1/CIR/P/2018/85 dated 28.05.2018


Clarification in the form of comprehensive FAQs on SEBI (PIT) Regulations, 2015 issued by SEBI on 31.03.2023.


NSE Circular dated 18.09.2020 regarding extension of time for sharing information by listed companies relating to System driven disclosures


NSE FAQ’s dated 28.01.2021 regarding – System driven disclosures under SEBI (Prohibition of Insider Trading) Regulations, 2015


PIT- Circular CIR/ISD/01/2015 dated 11/05/2015


PIT- Circular CIR/ISD/02/2015 dated 16/09/2015


SEBI Circular dated 09.02.2021 regarding revised disclosure formats under Regulation 7 of SEBI (Prohibition of Insider Trading) Regulations, 2015


SEBI Circular dated 09.09.2020 regarding Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 – System driven disclosures


SEBI Circular-Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 – System driven disclosures dated 13.08.2021


SEBI Circular-System driven disclosures for inclusion of listed Debt Securities dated 16.06.2021

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SEBI Master Circular dated 23.03.2023 regarding surveillance of securities market


SEBI Master Circular on Surveillance of Securities Market dated 09.07.2024


SEBI Master Circular on Surveillance of Securities Market dated 23.09.2024


Form B – SEBI (Prohibition of Insider Trading) Regulations, 2015 [Regulation 7 (1) (b) read with Regulation 6(2) – Disclosure on becoming a Key Managerial Personnel/Director/Promoter/Member of the promoter group] Revised w.e.f 09.02.2021


FORM C SEBI (Prohibition of Insider Trading) Regulations, 2015 [Regulation 7 (2) read with Regulation 6(2) – Continual Disclosure] Revised w.e.f. 09.02.2021


Form D – SEBI (Prohibition of Insider Trading) Regulations, 2015 Regulation 7(3) – Transactions by Other connected persons as identified by the company Revised w.e.f. 09.02.2021


PIT- Form A (Effective from 16.09.2015)


PIT- Form A (Till 15.09.2015)


PIT- Form B (Till 15.09.2015)


PIT-Form B (Effective from 16.09.2015)


PIT-Form C (Effective from 16.09.2015)


PIT-Form C (Till 15.09.2015)


PIT-Form D (Effective from 16.09.2015)


PIT-Form D (Till 15.09.2015)


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