HIGHLIGHTS OF e- FILING SEASON AY 10-11 ( up to 04/08/2010) 

COMPARATIVE PROGRESS OF e-FILING OF RETURNS 

AY 2009 - 2010 and AY 2008-2009 AY 2010-2011 and AY 2009 - 2010 

Form Type RETURNS RECD. RETURNS RECD. % Increase
01-APR-2009 01-APR-2010
To 4-AUG-2009 To 4-AUG-2010

ITR-1 5,17,490 12,22,275 136% 
ITR-2 4,37,238 4,26,997 -2% 
ITR-3 26,189 40,771 56% 
ITR-4 4,23,882 7,44,941 76% 
ITR-5 54,069 75,739 40% 
ITR-6 21,609 23,228 7% 
ITR-8 113 26 -77% 

TOTAL 14,80,590 25,33,977 71% 

Note : ITR 7 (for not for profit Trusts) has not been Notified for e-Filing 



Sebi makes holding pattern transparent

Firms must reveal over 2% change in 10 days

In a move to usher in more transparency in disclosure of shareholding pattern by companies, the Securities and Exchange Board of India (Sebi) on Thursday asked companies that have issued depository receipts to classify them as either promoter/promoter group and non-promoter in their quarterly disclosures to stock exchanges.

The Sebi board has also decided to make it mandatory for companies to disclose within 10 days a change exceeding 2 per cent of the paid-up share capital of the company, after a corporate event.

For companies that have issued ADRs or GDRs to non-promoters, the Sebi move would help shore up their public shareholding.

This was not clarified in June 2010 when the government amended the Securities Contracts (Regulation) Rules, under which it stipulated a minimum public holding of 25 per cent for all public listed companies.

“There are some companies whose public holding is a shade below 25 per cent. If they can add their depository receipts to public holding, it can either come close or cross the minimum 25 per cent criteria,” said an investment banker.

On the flip side, a lot of promoters hold depository receipts, but stayed away from declaring them. “The Sebi move will put onus on them to declare such depository receipts under promoter holding,” said an independent financial analyst who was an investment banker.

The Sebi board also decided to make it mandatory for companies preparing to list on the exchanges after an initial public offer or otherwise to file shareholding pattern one day prior to the date of listing.

“The same shall be uploaded on the website of exchanges before commencement of trading,” Sebi said.

This will allow investors to know who all hold more than one per cent stake in the company after the allotment of shares issued during the IPO, a Mumbai-based investment banker said.

At present, the shareholding pattern of companies is contained in initial public offer document and upon listing, companies file shareholding pattern with stock exchanges every quarter.

Another investment banker tracking Sebi’s move to classify ADRs and GDRs said the move was intended towards clarifying the issue of minimum 25 per cent public float in those companies that have shares held by custodians, against which depository receipts have been issued.

These changes would come into effect only after necessary guidelines are issued, a Sebi official told Financial Chronicle. 

Financial Chronicle, New Delhi, 06-08-2010