Relaxations under various provisions of SEBI Regulations due to the COVID 19 pandemic

 

Consolidated list of relaxations granted in relation to compliance with various provisions of SEBI Regulations due to the COVID 19 pandemic

Taking into consideration, the hardships faced by the listed entities due to the lockdown pursuant to the COVID-19 Pandemic, SEBI has issued various circulars granting relaxations in the timelines for compliance filings with the Exchange.

Listed entities are required to submit various disclosures to the Exchange on the due dates pursuant to the applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SEBI (Depositories and Participants) Regulations, 2018 and SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

A consolidated list of the revised timelines based on the compilation of various SEBI circulars is enclosed as Annexure A for your ready reference. This would assist the companies to comply in a timely manner.

Annexure A

Sr. No	Regulation	Due Date	Revised Due Date
1	Compliance Certificate Certifying Maintaining Physical & Electronic Transfer Facility for half year ended March 31, 2020 (Regulation 7 (3) of SEBI (LODR) Regulations, 2015)	April 30, 2020	May 31, 2020
2	Submission of Statement of Investor Complaints for quarter ended March 31, 2020 (Regulation 13 (3) of SEBI (LODR) Regulations, 2015)	April 21, 2020	May 15, 2020
3	Report relating to Submission of Secretarial Compliance Report for FY 2019-20 (Regulation 24A of SEBI (LODR) Regulations, 2015)	May 30, 2020	June 30, 2020
4	Submission of Corporate Governance Report for quarter and year ended March 31, 2020 (Regulation 27 (2) of SEBI (LODR) Regulations, 2015)	April 15, 2020	May 15, 2020
5	Prior intimation to stock exchanges about meetings of the Board of Directors (Regulation 29(2) of SEBI (LODR) Regulations, 2015)	· at least 5 days before the meeting, if financial results are to be considered · 2 working days in other cases	Board meetings in all cases - 2 days in respect of Board Meetings to be held till July 31, 2020. (the aforesaid 2 days excludes the date of the intimation and date of the meeting)
6	Submission of Shareholding Pattern for quarter ended March 31, 2020 (Regulation 31 of SEBI (LODR) Regulations, 2015)	April 21, 2020	May 15, 2020
7	Submission of Financial Results (Quarterly – Quarter ended March 31, 2020) (Regulation 33 of SEBI (LODR) Regulations, 2015)	May 15, 2020	June 30, 2020
8	Submission of Financial Results (Annually – FY ended March 31, 2020 ) (Regulation 33 of SEBI (LODR) Regulations, 2015)	May 30, 2020	June 30, 2020
9	Intimation to Stock Exchanges regarding loss of share certificates and issue of the duplicate certificates. (Regulation 39 (3) of SEBI (LODR) Regulations, 2015)	2 days from getting information	No penalty for delay in intimation made between March 01, 2020 to May 31, 2020
10	Certificate from Practicing Company Secretary on timely issue of share certificates for half year ended March 31, 2020 (Regulation 40 (9) of SEBI (LODR) Regulations, 2015)	April 30, 2020		May 31, 2020
11	Regulation 44 (5) of SEBI (LODR) Regulations, 2015 relating to holding of AGM by top 100 listed entities by market capitalization for FY 2019-20
	(a) having financial year end as March 31, 2020	August 31, 2020		September 30, 2020
	(b) having financial year end as December 31, 2019	May 31, 2020		September 30, 2020
12	Disclosures to the Exchange by "Promoters of Target Company" and "Every person, who together with persons acting in concert with him, holds shares or voting rights entitling him to exercise twenty-five per cent or more of the voting rights in a target company" for the financial year ending March 31, 2020 under Regulations 30(1), 30(2) and 31(4) of the SEBI (SAST) Regulations, 2011	Extended upto June 01, 2020
13	Regulation 74 (5) Report for quarter ended March 31, 2020 Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018)	Equivalent period of lock down declared by Government of India i.e. 21 days, over and above the prescribed time limits
14	Submission of Reconciliation of share capital audit report for quarter ended March 31, 2020 (Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018)	Equivalent period of lock down declared by Government of India i.e. 21 days, over and above the prescribed time limits
15	Large Corporate- Initial Disclosure / Annual Disclosure (SEBI Circular HO/DDHS/CIR/P/2018/144 dated November 26, 2018)	Extended upto June 30, 2020
16	SEBI (Buy-back of Securities) Regulations, 2018 - Regulation 24(i)(f) relating to minimum time between buy back and raising of funds	Temporary relaxation in the period of restriction provided in Regulation 24(i)(f) from “one year” to “six months” applicable up to December 31, 2020 only

Kindly note the compliance requirements above are indicative only. Companies are requested to refer the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable SEBI Regulations / SEBI Circulars for detailed compliances.

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Regards,

CS Ravi Garg

(Company Secretary & Compliance Officer)

E-mail : csravi2014@gmail.com

Mob.: +91-7838 20 4665

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.