Not very familiar with companies regulations but based on section 69G of Companies Act 1965,
|Section 69G. Person who ceases to be substantial shareholder to notify company.|
|(1) A person who ceases to be a substantial shareholder in a company shall give notice in writing to the company stating his name and the date on which he ceased to be a substantial shareholder and full particulars of the circumstances by reason of which he ceased to be a substantial shareholder.|
(2) The notice shall be given within seven days after the person ceased to be a substantial shareholder.
However, Securities Industries Acts 1983 allow 2 weeks to serve notice on substantial shareholdings and ceasing to be a substantial shareholders