To avoid multiple disclosures, markets regulator Sebi today asked exchanges and depositories to disclose consolidated holding of each shareholder including promoters and public on the basis of the PAN and folio number.
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This will help in avoiding multiple disclosures of shareholding of the same person, Securities and Exchange Board of India (Sebi) said in a circular.According to Sebi, holding disclosures of promoter and promoter group, public shareholder and others must be accompanied with PAN number (first holder in case of joint holding).
"Further, the shareholding of the promoter and promoter group, public shareholder and non-public, non-promoter shareholder is to be consolidated on the basis of the PAN and folio number to avoid multiple disclosures of shareholding of the same person," the regulator noted.
Folios are numbers designated to individual investor accounts, though one investor can have multiple accounts.
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