Regulation 30A explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
For most of the Listing Regulations' life, the disclosure obligation followed the company's own signature. If the listed entity was not a party to an agreement, the agreement did not reach the market.
That produced a strange result. An arrangement between two shareholders giving one of them a board seat, a veto over the annual budget, or a right of first refusal over the promoter's stake would govern how the company was actually run — and the public shareholders buying into it had no way to know.
Regulation 30A closes that gap by moving the reporting duty onto the parties.
Where shareholders, promoters, promoter group entities, related parties, directors, key managerial personnel or employees enter into an agreement that impacts the management or control of the listed entity, or imposes a restriction or creates a liability on it, the parties must inform the listed entity within two working days of entering into it. The entity then discloses it to the stock exchange, and carries the details in its annual report.
Who has to report, and what
The obligation sits on the parties to the agreement, not on the company, because the company frequently does not know.
Who must inform the listed entity:
- shareholders;
- promoters and promoter group entities;
- related parties;
- directors;
- key managerial personnel;
- employees of the listed entity, of its holding, subsidiary or associate company.
What must be reported: any agreement to which such a person is a party or a beneficiary, that impacts the management or control of the listed entity, or imposes any restriction or creates any liability upon it — whether or not the listed entity is a party to it.
When: within two working days of entering into the agreement, or of becoming a party or a beneficiary.
The listed entity then discloses it to the exchange under Regulation 30, on the deemed-material footing that Schedule III gives it. Material events under Regulation 30 →
What actually counts
The test is not "is it a shareholders' agreement". It is effect on management, control, restriction or liability. Typical catches:
| Arrangement | Why it is caught |
|---|---|
| A shareholders' agreement giving an investor a board nomination right | Impacts management |
| A reserved matters or veto list over budgets, borrowing, senior hires | Impacts management |
| A family arrangement among promoters allocating control of the company | Impacts control |
| A right of first refusal or tag-along over the promoter's holding | Restriction affecting control |
| A non-compete binding the company or restricting its business lines | Restriction on the entity |
| An indemnity or guarantee given by the entity under an arrangement it did not sign as principal | Creates a liability |
An agreement purely between two shareholders about the price at which they will trade with each other, with no governance content, is on the other side of the line. So is an ordinary commercial contract on arm's length terms that happens to be with a related party — that is Regulation 23 territory, not Regulation 30A. Related party transactions →
Subsisting agreements and the annual report
Two things carry forward after the initial disclosure.
Agreements already in force when the requirement came in had to be disclosed as part of the transition, whether or not anything had happened under them. An old shareholders' agreement sitting in a promoter's file, never acted upon, was still within scope.
The annual report carries the details. Agreements of this kind, and any subsisting from earlier years, are disclosed in the annual report so that the picture is available in one place rather than reconstructed from a trail of individual filings. The annual report →
What a listed company should actually do
The company cannot comply by waiting to be told. Three controls do most of the work:
Ask, in writing, annually. Fold a Regulation 30A confirmation into the annual declaration cycle that already collects independence declarations and committee positions from directors, and extend it to promoters and to shareholders above a threshold.
Ask again at the trigger points. A change in promoter shareholding, a new investor coming on the register, a change in board composition, a family settlement — each is a moment at which an agreement is likely to exist.
Brief the promoters specifically. The reporting duty is theirs, personally, and non-compliance is theirs too. Promoters frequently assume that an agreement between family members about their own shares is a private matter. Where it allocates control of a listed company, it is not.
Key takeaways
- The duty to report sits on the parties, not on the company.
- Two working days from entering into the agreement, or becoming a party or beneficiary.
- The listed entity need not be a party for the agreement to be disclosable.
- The test is effect — management, control, restriction or liability.
- Family arrangements among promoters are caught where they allocate control.
- Subsisting agreements were disclosable, not only new ones.
- Details carry into the annual report, so the picture stays in one place.
Read next
- Regulation 30: Disclosing Material Events and Information
- Regulation 31: Filing the Shareholding Pattern
- Regulation 31A: Reclassifying a Promoter as Public
- Regulation 23: Related Party Transactions and the Materiality Test
Disclaimer: Positions stated as on 5 September 2026. Verify the current text of Regulation 30A and Schedule III on sebi.gov.in before relying on any of this.
Key Facts About Regulation 30A
- Applies in: All states across India, under the relevant central law.
- Mode: Mostly online via the official government portal.
- Typical timeline: Ranges from a few days to a few weeks depending on the case.
- Non-compliance: May attract penalties, interest or late fees.
- Expert help: TaxClue completes the entire process end to end for you.
What does Regulation 30A require?
Disclosure of agreements that impact the management or control of a listed entity, or impose a restriction or create a liability on it, entered into by shareholders, promoters, promoter group entities, related parties, directors, key managerial personnel or employees — whether or not the listed entity is a party.
Who has to inform the listed entity?
The parties to the agreement, or the persons who are beneficiaries of it, within two working days of entering into it or of becoming a party or beneficiary.
Over 90% of compliance penalties in India arise from missed due dates — timely handling can save businesses thousands of rupees each year.
Regulation 30A: a key compliance topic in Indian tax and corporate law that businesses and individuals must understand to remain compliant.