Sharda Saraogi files SEBI Regulation 31(4) disclosure under Takeover Code

Regulatory 16 Jun 2026 · Filed / open· ✓ Verified

Sharda Saraogi has submitted a disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to the NSE. This regulation mandates that any person or group acquiring shares or voting rights such that their aggregate holding reaches or crosses a 5% threshold, or any subsequent acquisition of 2% (once at 5%+), must disclose within two trading days. The filing does not specify the acquisition quantum, timing, or price; however, the disclosure itself signals a controlled transaction subject to SEBI oversight. Team India Guaranty Limited is a financial services entity; the disclosure appears to pertain to either a primary acquisition by Saraogi…

Why it mattersThe filing signals a material change in ownership/control at Team India Guaranty; counsel advising acquirer or target must immediately verify whether the threshold breach (5% or above) triggers open offer obligations and timeline compliance with Reg. 31(5)–(7).
Counsel—
SectorFinancial Services
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