SEBI
LODR Relaxations due to Lockdown 2.0:
·
Relaxation
given under:
o
Regulation 29 (2) of LODR
Regulations
o Regulation 39 (3) of LODR Regulations
o
Regulation 47 of LODR
Regulations.
o
Regulation 52(8) of LODR
Regulations
o
Clarification regarding
the use of digital signatures
·
Overview
Securities and
Exchange Board of India (SEBI) vide notification / Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/63
issued and publish dated 17th April, 2020, has published Additional
relaxations / clarifications in relation to compliance with certain provisions of
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
(‘LODR’) due to the COVID – 19 pandemic”
The Circular
is issued to :
·
All
listed entities
·
All
Recognized Stock Exchanges
In view of the situation arising due to COVID-19 pandemic and
extended lockdown period, it has been decided to grant the following further
relaxations / issue clarifications regarding provisions of the LODR in the face
of challenges faced by listed entities due to the COVID-19 pandemic:
|
Regulations
|
Compliance Particulars
|
Standard Timeline
|
Extension / Relaxations
|
|
Regulation 29 (2) of
LODR Regulations
|
Prior
intimation to stock exchanges about meetings of the board:
|
· at least 5 days before the meeting if financial results
are to be considered;
· 2 working days in other cases.
|
prior
intimation of 5 days / 2 working days shall be reduced to 2 days, for board
meetings held till July 31, 2020.
|
|
Regulation 39 (3) of
LODR Regulations
|
Intimation
to Stock Exchanges regarding loss of share certificates and issue of the
duplicate certificates:
|
within
two days of its getting information.
|
any
delay beyond the stipulated time will not attract penal provisions laid down
vide SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2018/77 dated May 3, 2018. This
relaxation is for intimations to be made between March 1, 2020 to May 31,
2020.
|
|
Regulation 47 of LODR
Regulations.
|
Publication
of advertisements in newspapers
|
|
exempt
till May 15, 2020
|
|
Regulation 52(8) of
LODR Regulations
|
Publication
of advertisements in newspapers
|
Listing of their NCDs
and NCRPS
|
exempt
till May 15, 2020
|
·
Clarification regarding
the use of digital signatures:
It is hereby clarified that authentication / certification of
any filing / submission made to stock exchanges under LODR may be done using
digital signature certifications until June 30, 2020.
Source:
Disclaimer:
IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT,
SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION
WITH THE USE OF THIS INFORMATION.
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