Regulatory Framework · India
SEBI Compliance Lawyer in Delhi
Securities law compliance that keeps your listing clean.
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SAT Appearances
Understanding the Regulatory Framework
SEBI's regulatory framework has expanded significantly over the last decade. Listed companies in India now face continuous disclosure obligations under LODR Regulations 2015, insider trading restrictions under PIT Regulations 2015, open offer triggers under SAST Regulations 2011, and enforcement by a regulator that has demonstrated both appetite and capability for action. Non-compliance — whether a missed related party transaction disclosure or an inadvertent insider trading violation — can result in penalties, trading suspensions, and reputational damage. Corpus Juris Legal advises listed companies and their boards on SEBI compliance architecture, handles SEBI show-cause notices and investigations, and appears before the Securities Appellate Tribunal (SAT) in appeals against SEBI orders.
LODR compliance framework — board composition, disclosures, related party transactions
Insider trading policy and UPSI management under PIT Regulations
Open offer structuring and compliance under SAST Regulations
SEBI show-cause notice responses and investigation representation
SAT appearances and appeals against SEBI enforcement actions
Fund registration and AIF/PMS regulatory compliance
Frequently Asked Questions
What are the key SEBI LODR compliance requirements for listed companies?+
SEBI LODR 2015 requires listed companies to maintain minimum board composition (including independent directors), constitute audit, nomination-remuneration, and stakeholder committees, make continuous disclosures on material events, file quarterly financial results, and comply with related party transaction approval and disclosure requirements. Annual compliance reports must be filed with stock exchanges.
What constitutes "insider trading" under SEBI PIT Regulations?+
Trading in securities of a listed company while in possession of unpublished price-sensitive information (UPSI) constitutes insider trading. UPSI includes financial results, mergers and acquisitions, fund raising, and other material events. Connected persons (employees, advisors, family members) are all covered. Penalties include disgorgement of profits, fines up to three times the gain, and debarment.
When is an open offer triggered under SAST Regulations?+
An open offer is triggered when an acquirer crosses 25% shareholding in a listed company (creeping acquisition trigger), or when a person already holding 25% or more acquires an additional 5% in a financial year. Open offers must be for a minimum of 26% of total shares and at a price determined under the SEBI formula.
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