· 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 June30, 2020.
Source: Click Here
CAclubindia
