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Practice area · SEBI

Market compliance, held to the exact regulation.

A missed LODR disclosure or a mis-timed trade can mean a penalty, a probe and a headline. Get the SEBI position with the exact regulation and circular cited.

SEBI regulations govern India's securities markets - listings, disclosures, takeovers, insider trading and intermediaries. AskSolique answers SEBI questions with the exact regulation and circular cited.

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SEBI questions carry outsized reputational stakes - disclosure timing and insider-trading windows are where a small miss becomes a public one.

Why SEBI is hard

Dozens of regulations, amended by a stream of circulars.

SEBI regulates the market through a dense set of regulations - LODR, ICDR, SAST, PIT, the intermediary regulations - each amended repeatedly and layered with master circulars, informal guidance and adjudication orders. Disclosure obligations turn on materiality thresholds and tight timelines; the Takeover Code hinges on percentage triggers and creeping limits; insider-trading rules define designated persons and trading windows that shift with each amendment. The controlling position is rarely in the base regulation alone - it is in the latest circular or an SAT order interpreting it.

What's broken in the way you work today

You feel this on every disclosure and every deal.

  1. Amendments outrun the base regulation

    The regulation you have may be two amendments behind. Working from a stale LODR or PIT text means advising on rules that have already changed.

  2. General AI misreads thresholds

    Ask a chatbot about an open-offer trigger or a disclosure timeline and it returns a confident number that may be from a superseded version - with a regulation citation that looks right.

  3. Timelines are unforgiving

    Regulation 30 disclosures, trading-window closures, offer timelines - each runs on a strict clock where a day's slip is itself the violation.

  4. The stakes are public

    A SEBI lapse is not a quiet demand. It draws adjudication, penalty and disclosure that the client - and the advisor - would rather not read about.

What happens if nothing changes

A SEBI miss is measured in penalties and reputation.

SEBI contraventions carry monetary penalties that run into crores, disgorgement, debarment from the market, and adjudication and SAT proceedings that play out on the public record. For a listed company a missed material-event disclosure or a botched trading-window is not just a fine - it is a governance question raised in front of investors and the exchange. Doing nothing means advising on market compliance from regulations that may already have moved, on matters where the downside is both financial and public.

What has to change

The regulation, the circular and the order - current, together.

Stop advising from a base regulation that amendments have overtaken. The SEBI position should arrive with the current regulation, the governing master circular and the relevant SAT or adjudication order together - from a corpus maintained as SEBI amends - and it should connect to the FEMA and Companies Act angles of the same transaction, because a market deal never sits inside SEBI alone.

Genuine use cases

The questions that land on a securities-law desk - answered, cited.

Real fact patterns from capital-markets work. Each returns the position with the exact regulation attached.

Open-offer trigger on an acquisition

An acquirer is buying a stake in a listed company and needs to know when a mandatory open offer kicks in.

The question

When is an open offer triggered under the Takeover Code?

AskSolique answers

A mandatory open offer is triggered on acquisition of 25% or more voting rights, on breaching the 5% creeping-acquisition limit above that, or on acquiring control, under Regulations 3 and 4 of the SEBI (SAST) Regulations, 2011.

  • ↳ Reg 3, SEBI SAST 2011
  • ↳ Reg 4, SEBI SAST 2011

Material-event disclosure timing

A listed entity signs a significant contract and must decide what and when to disclose.

The question

What is the LODR requirement for disclosing a material event?

AskSolique answers

Material events must be disclosed to the stock exchanges under Regulation 30 of the LODR within the timelines specified in the regulation and its schedule, applying the materiality policy the entity has adopted.

  • ↳ Reg 30, SEBI LODR
  • ↳ LODR Schedule III

Designated persons and the trading window

A company is finalising results and needs to manage insider trading compliance for its people.

The question

Who is a designated person under the PIT regulations, and what restricts their trading?

AskSolique answers

Designated persons are identified by the listed entity under the SEBI (PIT) Regulations, 2015 and are subject to trading-window closures around unpublished price-sensitive information and to prescribed disclosure obligations.

  • ↳ SEBI PIT 2015
  • ↳ PIT Schedule B

What your team gets out of it

Not a discount on hours - leverage on the highest-stakes work you do.

  • Advise on current rules

    Every position reflects the latest amendment and master circular, so you never advise from a superseded regulation.

  • Hit every timeline

    Answers surface the disclosure or offer clock the situation triggers, so a Regulation 30 filing never slips.

  • Connect the whole deal

    See the SEBI, FEMA and Companies Act angles of one transaction in a single thread.

  • Defensible before the regulator

    Every conclusion traces to the exact regulation and order - the position you can put before SEBI or SAT.

Frequently asked SEBI questions

What triggers a mandatory open offer?
Crossing 25% voting rights, breaching the 5% creeping-acquisition limit above that, or acquiring control triggers a mandatory open offer under the SAST Regulations.
What is the LODR requirement for material events?
Listed entities must disclose material events to the stock exchanges under Regulation 30 of the LODR, within the timelines specified in the regulation and its schedule.
Who is a designated person under PIT regulations?
Designated persons are identified by the listed entity under the SEBI (PIT) Regulations, 2015 and are subject to trading-window and disclosure restrictions.
What is the minimum public shareholding requirement?
Listed companies must maintain at least 25% public shareholding under the Securities Contracts (Regulation) Rules, subject to specified timelines to comply.

A cited answer, in context

Put a SEBI question of your own to it.

Start free, bring a real matter, and see the answer come back cited to the exact source. No card, no demo call.

Example question

When is an open offer triggered under the Takeover Code?

AskSolique answers

An open offer is triggered on acquisition of 25% or more voting rights, or on acquiring control, under the SEBI (SAST) Regulations, 2011 - with creeping-acquisition thresholds beyond that.

  • ↳ Reg 3, SEBI SAST 2011
  • ↳ Reg 4, SEBI SAST 2011
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