In furtherance of the same and after the consultations held with the Stock Exchanges and Depositories, SEBI has extended this framework to all the listed companies in a phased manner as per the glide path below:
Summary of the SEBI Circular dated 19/07/2023.
This circular is integrated in our free-to-use website ca2013.com.
SEBI extends the framework for restricting trading by DPs by freezing their PANs to all listed companies.
In reference to the SEBI notification dated 05/08/2022 regarding restriction of trading by Designated Persons during notional trading window closure period which was made applicable on NIFTY 50 & SENSEX 30.
To begin the same with the declaration of Financial Result, BSE & NSE had notified the framework for restricting such trade by freezing PANs of DPs by circular dated 28/06/2023.
|Companies to be Covered.
|| PAN freeze start date
|Companies part of NIFTY 50 and SENSEX 30
|| Already applicable as on date
|Top 1,000 companies in terms of BSE Market Capitalization as of June 30, 2023 (excluding companies’ part of benchmark indices)
|| October 1, 2023
|Next 1,000 companies in terms of BSE Market Capitalization as of June 30, 2023
|| January 1, 2024
|Remaining companies listed on BSE, NSE & MSEI
|| April 1, 2024
|Companies getting listed on Stock Exchanges post issuance of this circular
||1st day of the second quarter from the quarter in which the company gets listed
- The procedure for implementation of the system & the process flowchart has also been annexed to the Circular.
- The circular notifies the format in which depositories shall submit the quarterly report for implementation of framework for restricting trading by DPs to SEBI.
- The above circular shall come into force as per the glide path shown above.