SEBI relaxes compliance of certain provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the CoVID -19 virus pandemic
Considering the CoVID 19 pandemic, SEBI vide Circular dated March 19, 2020 has decided to grant temporary relaxations from certain compliance stipulations specified under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘LODR’) to listed entities w.r.t. the quarter / financial year ending March 31, 2020:
SN
Regulation and associated filing
Period of relaxation
1.
Regulation 7(3) relating to half yearly compliance certificate on share transfer facility
1 month
2.
Regulation 13(3) relating to quarterly statement of Investor complaints
3 weeks (appx.)
3.
Regulation 24A read with circular No CIR/CFD/CMD1/27/2019 dated February 8, 2019 relating to Annual Secretarial compliance report
4.
Regulation 27(2) relating to filing of quarterly Corporate Governance report
5.
Regulation 31 relating to filing of quarterly Shareholding Pattern
6.
Regulation 33 relating to filing of quarterly and annual Financial Results
45 days/1 month
The CoVID 19 virus has hit populations around the world and has restricted free movement of people, thereby hampering businesses and day to day functioning of companies. It has been declared a ‘pandemic’ by the World Health Organization (WHO). Developments arising due to the spread of the virus have warranted the need for temporary relaxations in compliance requirements for listed entities.
A copy of the Circular issued by SEBI is available on SEBI website at www.sebi.gov.in under the category - 'Legal - Circulars'.