SEBI Board Meeting 30 September 30, 2024 – Amendment w.r.t SEBI PIT - MMJC

Amendment in SEBI PIT relevant for entities having their equity and/or non-convertible securities listed.

SEBI has approved to amend the definition of relative and connected person. Once notified following persons would be considered as ‘deemed connected persons’ additionally. These persons would be deemed to be in possession of UPSI or deemed to have access to UPSI and onus would on them to prove that they were not in possession of UPSI or nor they had access to UPSI :

1. A firm or its partners or its employees in which a ‘connected person’ is also a partner.
2. A person sharing household or residence with a connected person.
3. Siblings of spouse and their spouses
4. Siblings of parents and their spouses
5. Lineal ascendant or lineal descendant of spouse or individual and their spouses

https://www.sebi.gov.in/media-and-notifications/press-releases/sep-2024/sebi-board-meeting_87154.html