INTRODUCTION
In an attempt to impede the spread of Covid-19 virus, the nation
is under a mandatory 21-day lockdown since 25th March 2020. As a
measure to assist the crippling economy, the Government of India
and various regulators such as Securities and Exchange Board of
India ("SEBI") have granted certain reliefs and
relaxations from filing and other requirements under various
regulations.
SEBI (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS)
REGULATIONS, 2011
As is the usual norm, the date for filing of disclosures under
regulations 30(1), 30(2) and 31(4) is 31st March of every financial
year. Regulations 30(1) and 30(2) state that every person who
together with persons acting in concert with him holds 25% or more
of the shares / voting rights in a target company and the promoters
(together with the persons acting in concert with him) shall
disclose their aggregate shareholding and voting rights held in a
target company. Additionally, the promoters also need
