Disclosures by other connected persons
The disclosures a listed company may require from connected persons who are not designated persons, at intervals the company itself sets.
Standing duty, no filing date
- SEBI
- Insider trading and takeovers
- Not specified
- 2026-09-01
There is no statutory date. PIT Reg 7(3) is enabling: a listed company may require any other connected person to disclose their holdings and trading in the company's securities, in the form and at the frequency the company decides. So the deadline is whatever the company's own code of conduct sets. Where a company does use Reg 7(3), NSE has required the filing to go through its mandatory XBRL utility on NEAPS since 4 May 2026.
The regulation has not changed, but the channel has where a company uses it. NSE circular NSE/CML/2026/12 brought Reg 7(3) filings into the same mandatory XBRL utility as Reg 7(2) from 4 May 2026.
Deadlines counted from an event
Reg 7(3) lets the company require holdings and trading disclosures from other connected persons at such frequency as it may determine. The regulation fixes no interval, so there is no universal due date; the company's code of conduct sets one.
The rule
Reg 7(3) lets the company require holdings and trading disclosures from other connected persons at such frequency as it may determine. The regulation fixes no interval, so there is no universal due date; the company's code of conduct sets one.
Who must comply
- Connected persons whom a listed company chooses to bring within Reg 7(3)
- The listed company, which decides the form and the frequency
- The provision is enabling. A company that does not exercise it creates no obligation for connected persons under Reg 7(3)
Statutory basis
Before you file
- Decide in the code of conduct which connected persons Reg 7(3) covers.
- Fix the form of the disclosure.
- Fix the frequency of the disclosure.
- Tell each covered person what is required and when.
How to file
- Collect the disclosure in the form the code of conduct sets.
- File it with the exchange through the NSE XBRL utility where an exchange filing is required.
- Keep the disclosure with the other Chapter III records for five years.
If you miss it
The company sets the requirement, so a failure is first a breach of its own code of conduct and is dealt with under clause 12 of Schedule B, with any amount collected going to the SEBI Investor Protection and Education Fund. Because Reg 7(3) is a regulation, section 15HB of the SEBI Act also remains available at up to ₹1 crore for a contravention with no separate penalty prescribed.
- The company has to report a code of conduct breach to the stock exchange under clause 13 of Schedule B, even where the underlying requirement was the company's own
Recent changes affecting this
Common questions
Is a Reg 7(3) disclosure mandatory?
Not by itself. Reg 7(3) lets a company require it. Once the company's code of conduct requires it, the person has to comply with what the code says.