SAST Regulation 30: the annual disclosure that ended

SAST Regulation 30 was the annual disclosure under SEBI's Takeover Regulations, and it no longer exists. It required large holders and promoters to report their aggregate holding as on 31 March each year. It was omitted with effect from 1 April 2022, so the last filings made under it covered the financial year ended 31 March 2022. Compliance checklists and summaries written before that date still list it, which is why the SAST Regulation 30 annual disclosure is one of the most common stale references in Indian filing research. This guide explains what it required, when it ended, and what still shows a holder's position. It is not investment advice.

What did SAST Regulation 30 require?

The omitted regulation, headed "Continual disclosures", had three sub-regulations. Regulation 30(1) applied to every person who, together with persons acting in concert, held shares or voting rights entitling them to exercise twenty-five per cent or more of the voting rights in a target company. That person disclosed their aggregate shareholding and voting rights as of the thirty-first day of March.

Regulation 30(2) placed the same annual obligation on the promoter of every target company, together with persons acting in concert. Regulation 30(3) set the deadline and the recipients: within seven working days from the end of each financial year, to every stock exchange where the shares were listed and to the target company at its registered office.

When and how it was removed

Regulation 30 was omitted by the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2021, with effect from 1 April 2022. In the consolidated text of the regulations as last amended on 5 December 2025, the provision appears only in a footnote that records what it said before the omission.

The same amendment reworked the event-based disclosures in the same breath. It substituted Regulation 29(1) and Regulation 29(2), both also with effect from 1 April 2022, and the substitution in 29(2) replaced "Any acquirer, who together" with "Any person together", widening who the sub-regulation catches. For the thresholds themselves, see what is a SAST disclosure.

What still records a large holding

Three records survive, and none of them is an annual Takeover Code filing.

The quarterly shareholding pattern under SEBI LODR Regulation 31 remains the recurring public statement of who holds what, split by promoter, public and non-promoter categories. Note that this is a different Regulation 31 from the one in the Takeover Regulations, which deals with encumbrance. See how to read a shareholding pattern and SAST encumbrance disclosure.

Event-based Regulation 29 disclosures continue on their own trigger, at 5% and on every change beyond 2%, within two working days. And under the Takeover Regulations the promoter still files an annual declaration, but a narrow one: Regulation 31(4) requires a yearly statement that no encumbrance other than those already disclosed was created during the financial year.

What this means when reading old filings

A Regulation 30 filing you find on an exchange website is a real, dated document, but it is a historical one. It states a position as on a 31 March that falls in or before 2022, and there is no later filing of the same kind to compare it against. Treat it as a point-in-time record, not as part of a continuing annual series, and check the shareholding pattern for anything after that date.

For how the Takeover Code disclosures line up against the US equivalent, see SAST disclosure vs Schedule 13D, and for the insider-trading regime that runs alongside it, see SAST Reg 29 vs PIT Reg 7.

Flock reads Indian takeover and insider disclosures alongside shareholding patterns and US filings, and keeps every claim sourced and dated. What the data means for your money is your call to make.