COVID-19 UPDATE RELAXATION UNDER SECURITIES LAWS – Eshwars
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COVID-19 UPDATE RELAXATION UNDER SECURITIES LAWS

SEBI has granted following relaxations from compliance stipulations specified under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR”) to the listed entities:
 

    Frequency Due within Due Date Extended date Period of relaxation
a Regulation 7(3) relating

to compliance

certificate on share

transfer facility

Half yearly 1

month of

the end of

each half

of the

financial

year

April

30,

2020

May 31,

2020

1 month
b Regulation 13(3)

relating to Statement of

Investor complaints

Quarterly 21 days

from the

end of

each

quarter

April

21,

2020

May 15,

2020

3

weeks

(appx.)

c Regulation 24A read

with circular No

4CIR/CFD/CMD1/27/201

9 dated February 8,

2019 relating to

Secretarial Compliance

report

Yearly 60 days

from the

end of the

financial

year

May

30,

2020

June 30,

2020

1 month
d Regulation 27(2)

relating to Corporate

Governance report

Quarterly 15 days

from the

end of the

quarter

April

15,

2020

May 15,

2020

1 month
e Regulation 31 relating

to Shareholding Pattern

Quarterly 21 days

from the

end of the

quarter

April

21,

2020

May 15,

2020

3

weeks

(appx.)

f Regulation 33 relating

to Financial Results

Quarterly /

Annual

45 days

from the

end of the

quarter

for

quarterly

results

May

15,

2020

June 30,

2020

45 days
g Regulation 40(9) relating to Certificate from Practicing Company Secretary on timely issue of share certificates Half Yearly 1 month of the end of each half of the financial year April 30, 2020 May 31, 2020 1 month
h Regulation 44(5) relating to holding of AGM by top 100 listed entities by market capitalization for FY 19-20 Annual Within a period of 5 months from the date of closing of the financial year August 31, 2020 September 30, 2020 1 month
i The nomination and remuneration committee, stakeholders relationship committee and the risk management committee is required to meet atleast once in year. Yearly March 31, 2020 March 31, 2020 June 30,2020 3 months

 

j. Relaxation from publishing in newspapers:

Regulation 47 of SEBI (Listing Obligations and Disclosures Requirement) Regulations, 2015 provides for events which have to be published in newspapers. SEBI has exempted the listed companies from publishing the advertisements in newspapers as required under regulation 47 for all events scheduled till May 15, 2020.

k. Relaxation of the operation of the SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/12 on Standard Operation Procedure dated January 22, 2020

The above circular is with respect to the Standard Operating Procedure (SoP) on imposition of fines and other enforcement actions for non-compliances with provisions of the SEBI (LODR) Regulations, 2015. The effective date of operation of this circular was from compliance periods on or after March 31, 2020. However SEBI has extended it to the compliance periods ending on or after June 30, 2020. Hence the earlier SoP circular dated May 3, 2018 would be applicable till June 30, 2020.

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