Whalesbook
SEBI ne saaf kar diya hai ki ab company ke insiders bhi apni shares ko pledge kar paayenge, chahe company ka trading window band hi kyun na ho. Yeh permission unko legitimate reasons ke liye milengi, jaise ki fund raise karna ya personal financial needs puri karna. Lekin iske liye company ke compliance officer se pehle approval lena compulsory hai.
Asal mein, 'legitimate reason' kya hai, iska koi fixed definition nahi hai. Har case ko company ka compliance officer hi judge karega. Companies ko yeh saari transactions apne internal code of conduct mein record karni hongi, aur officer ko verify karna hoga ki request sach mein genuine hai. Isse pehle insiders ko apne shares ko financial purpose ke liye use karne mein kaafi dikkat aati thi.
SEBI ne yeh bhi clear kiya hai ki trading window restrictions insiders ko genuine reasons ke liye shares pledge karne se nahi rokengi, agar unhone pehle approval le liya hai aur baaki sab rules follow kar rahe hain. Insider trading rules ka bhi pura khayal rakhna hai, taaki non-public information ka galat istemal na ho. Yeh step insiders ki financial needs aur market ki overall integrity ke beech balance banane ke liye hai.
Ek aur important point hai contra-trade rules ka. SEBI ne bataya ki jab pledged shares invoke hote hain (loan default hone par), toh beneficial ownership change ho jati hai. Yeh ek tarah ki sale maani ja sakti hai, jo contra-trade rules ko trigger kar sakti hai agar 6 mahine ke andar koi related buy ya sell transaction hua ho. Isiliye, share pledge karne se pehle careful planning bahut zaroori hai. Yeh clarification corporate insiders ke liye operational guidance ko aur bhi clear karegi.