SEBI lawyer for equities and securities law

Securities law advisory for companies and promoters

Insider trading regulations

Codes of conduct and fair disclosure under the SEBI (Prohibition of Insider Trading) Regulations, 2015: trading windows, pre-clearance, the structured digital database of who holds unpublished price sensitive information, and trading plans for insiders.

SEBI LODR compliance

Disclosures, related party transaction approvals and board processes under the Listing Obligations and Disclosure Requirements Regulations, 2015.

Takeover code

Under the Substantial Acquisition of Shares and Takeovers Regulations, 2011, acquiring 25% of the voting rights, or control, triggers an open offer; existing holders of at least that much can add up to 5% a year without one. Acquisitions reaching 5%, and every 2% change after that, must be disclosed.

SEBI show cause notice: what happens next?

A show cause notice is the start of SEBI's enforcement process, not the end of it. How you respond in the first weeks often decides the outcome.

1. Read the allegations and the material relied on. Ask for inspection of documents not supplied.
2. Reply in writing within the time given. Facts first, then law, with documents.
3. Consider settlement. Many matters can be settled under the SEBI (Settlement Proceedings) Regulations, 2018, without admitting or denying the findings.
4. Personal hearing. Before the adjudicating officer or whole-time member.
5. Order. Penalty, directions or disposal.
6. Appeal. To the Securities Appellate Tribunal within 45 days, and then to the Supreme Court on questions of law within 60 days.

Shareholder disputes and oppression and mismanagement

In unlisted companies, minority shareholders who are shut out of management, diluted unfairly or denied information can apply to the National Company Law Tribunal under Sections 241 and 242 of the Companies Act, 2013. Section 244 sets who may apply: in a company with share capital, at least 100 members or members holding one-tenth of the issued capital, though the tribunal can waive this. Relief can include buyout orders, setting aside allotments and changes in management.

Help for individual investors

If a broker, depository participant or other intermediary has mishandled your account, start with its grievance cell, then file on SEBI's SCORES platform. Unresolved complaints go to online conciliation and arbitration under SEBI's Online Dispute Resolution framework. We help you put the record together and argue the claim. We do not advise on which shares to buy or sell.

Which laws govern equities in India?

How we work with you

1. Brief. The notice, transaction or dispute, and the deadline.
2. Document review. Trading records, disclosures, board minutes, correspondence with SEBI or the exchange.
3. Advice and strategy. Reply, settlement, compliance fix or litigation.
4. Drafting and filing. Replies, settlement applications, appeals or NCLT petitions.
5. Representation. Hearings before SEBI, SAT or NCLT.

Related pages: mutual funds, AIFs and wealth management legal advisory.

When should you call a SEBI lawyer?

Before a large acquisition or a promoter reorganisation, as soon as a notice or summons arrives, and whenever an insider trading question comes up internally. These are the mistakes we see most often:

• Designated persons trading during a closed trading window or without pre-clearance.
• Sharing results or deal information on informal chat groups.
• Promoters missing the 5% or 2% disclosure because shares are held across family accounts.
• Treating a show cause notice as routine and replying late or without documents.
• Missing the 45-day window for a SAT appeal.