As an endeavor towards ease of doing business, SEBI introduced the System Driven Disclosure (SDD) for SEBI (Prohibition of Insider Trading) Regulations 2015 vide its circular dated 9th September 2020 in phased manner.
As per the said circular, disclosures under Regulation 7(2)(a) and (b) (i.e. change in shareholding of Promoters and Directors by more than 10 lacs in a quarter) were automated and alongside, it was required to continue with independent disclosures by the respective entities.
In furtherance to aforesaid circular and confirmation by Stock Exchanges and Depositories that the SDD is implemented and live, SEBI has now vide its circular dated 13th August 2021 provided that all listed companies which are in compliance with the provisions of SEBI circular on SDD, no longer require to file manually the disclosures under Regulation 7(2)(a) and (b) of SEBI (PIT) Regulations.