Trading Window closure period under Clause 4 of Schedule B read with Regulation 9 of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (“PIT Regulations”) – Extension of automated implementation of trading window closure to Immediate Relatives of Designated Persons, on account of declaration of financial results.
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Trading window closure: Immediate relatives of designated persons will have automated PAN ISIN freezes during financial results periods. The circular extends automated trading-window restrictions to immediate relatives of designated persons by requiring a Designated Depository portal to collect and confirm PANs, names and demat details; companies must specify trading-window commencement and end dates and provide details by T 2, the depository will share data with exchanges and other depositories by T 1 and daily during closure, after which depositories will freeze PANs at ISIN level to block off-market encumbrances and stock exchanges will restrict on-market transactions; additions, deletions and exemptions must be effected within two trading days.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Trading window closure: Immediate relatives of designated persons will have automated PAN ISIN freezes during financial results periods.
The circular extends automated trading-window restrictions to immediate relatives of designated persons by requiring a Designated Depository portal to collect and confirm PANs, names and demat details; companies must specify trading-window commencement and end dates and provide details by T 2, the depository will share data with exchanges and other depositories by T 1 and daily during closure, after which depositories will freeze PANs at ISIN level to block off-market encumbrances and stock exchanges will restrict on-market transactions; additions, deletions and exemptions must be effected within two trading days.
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