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Significant beneficial owner: Sebi comes out with disclosure format

Press Trust of India  |  New Delhi 

Listed companies will have to make disclosures about details pertaining to significant beneficial owners in a prescribed format, markets regulator Sebi said on Friday.

This will come into effect from the quarter ended March 31, 2019, the (Sebi) said in a circular.

As per Sebi, listed entities need to disclose details such as name, PAN and nationality of the significant beneficial owner as well as registered owner.

Among other disclosures are details of the shares in which significant beneficial interest is held by the beneficial owner and date of acquisition of significant beneficial interest.

The move is aimed at bringing transparency to investors.

Significant Beneficial Owner (SBO) is a person who is not a registered shareholder of the company but the person either individually or jointly owns at least 10 per cent stake in the company or directly or indirectly exercises significant control over the company.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, December 07 2018. 17:15 IST