SEBI (Issue of Capital and Disclosure Requirements)
Regulations, 2009 notified
SEBI (Issue of
Capital and Disclosure requirements) Regulations, 2009 (ICDR Regulations), have
been notified. The matters relating to issue of capital, the manner in which
such matters shall be disclosed and other matters incidental thereto were
hitherto provided in the SEBI (Disclosure and Investor Protection) Guidelines,
2000 (DIP Guidelines) issued under Section 11(1) of the SEBI Act, 1992. These
provisions, along with few changes, have since been incorporated in the ICDR
Regulations, which were notified on August 26, 2009. Consequently, the DIP Guidelines stand
rescinded. A Circular has been issued today to merchant bankers / stock
exchanges to inform them about the ICDR Regulations, its applicability and the
significant changes vis-a-vis the rescinded Guidelines.
amendments have also been made to the SEBI (ESOS and ESPS)
Guidelines, 1999 and Equity Listing Agreementthrough Circulars issued today.
Further, a Circular has been issued today under Section 11 of the SEBI Act,
read with rule 19(7) of the Securities Contracts (Regulation) Rules, 1957
(SCRR) in respect of matters relating to listing of securities under the SCRR,
hitherto contained in the rescinded Guidelines.
The text of the ICDR
Regulations and the Circulars is available on the website at www.sebi.gov.in
under the categories "Legal Framework" and "Issues and
September 03, 2009