RELAXATION FOR COMPLIANCES UNDER SEBI LODR REGULATIONS 2020

Certain relaxations have been provided by SEBI in the view of COVID 19 regarding compliances to be followed. They are explained as follows:

Quarterly compliances

Regulation 13(3) (Statement of Investor complaints)

  • Timeline: 21 days from the end of each quarter
  • Due Date: April 21, 2020
  • Revised Due date: May 15, 2020
  • Period of Relaxation: 3 weeks (Approx.)

Regulation 27(2) (Corporate Governance report)

  • Timeline: 15 days from the end of each quarter
  • Due Date: April 15, 2020
  • Revised Due date: May 15, 2020
  • Period of Relaxation: 1 Month (Approx.)

Regulation 31 (Shareholding Pattern)

  • Timeline: 21 days from the end of each quarter
  • Due Date: April 21, 2020
  • Revised Due date: May 15, 2020
  • Period of Relaxation: 3 weeks (Approx.)

Regulation 33 (Financial Results)

  • Timeline: 45 days from the end of the quarter.
  • Due Date: May 15, 2020
  • Revised Due date: June 30, 2020
  • Period of Relaxation: 45 days

Half yearly compliances

Regulation 7(3) (Compliance certificate on share transfer facility)

  • Timeline: One month of the end of each half of the financial year
  • Due Date: April 30, 2020
  • Revised Due date: May 31, 2020
  • Period of Relaxation:One month

Regulation 40(9) (Certificate from PCS on timely issue of share certificates)

  • Timeline: One month of the end of each half of the financial year
  • Due Date: April 30, 2020
  • Revised Due date: May 31, 2020
  • Period of Relaxation:One month

Regulation 52(1) & (2) (Financial Results)

  • Timeline: 45 days from the end of the Half Year
  • Due Date: May 15, 2020
  • Revised Due date: June 30, 2020
  • Period of Relaxation: 45 Days

Annual compliances

Regulation 33 (Financial Results)

  • Timeline: 60 days from the end of financial year
  • Due Date: May 30, 2020
  • Revised Due date: June 30, 2020
  • Period of Relaxation: 1 month

Regulation 24A (Annual Secretarial Compliance Report)

  • Timeline: 60 days from the end of financial year
  • Due Date: May 30, 2020
  • Revised Due date: June 30, 2020
  • Period of Relaxation: 1 month

Regulation 52(1) & (2)(Financial Results)

  • Timeline: 60 days from the end of financial year
  • Due Date: May 30, 2020
  • Revised Due date: June 30, 2020
  • Period of Relaxation: 1 month

Regulation 30 & 31 of SEBI (SAST), Regulations, 2018

  • Timeline: within 7 working days from the end of financial year
  • Due Date: April 9, 2020
  • Revised Due date: June 1, 2020
  • Period of Relaxation: 2 months approx.

Initial Disclosure by Large Corporates

  • Timeline: within 30 days from the beginning of Financial year
  • Due Date: April 30, 2020
  • Revised Due date: June 30, 2020
  • Period of Relaxation: 60 days

Annual Disclosure by Large Corporates

  • Timeline: within 45 days from the beginning of Financial year
  • Due Date: May 15, 2020
  • Revised Due date: June 30, 2020
  • Period of Relaxation: 45 days

Kindly note that Large Corporate is defined in SEBI circular dated 26th November, 2018.

Further relaxation in Regulation 47 (Publication of advertisements in the newspapers) have been provided., The reason is that SEBI has observed that some newspapers are not taking their print versions for a limited period and they are still printing and are not accepting a ‘e-copy’ of the information to be published which acts as a hindrance in ensuring compliance with this regulation. Hence SEBI provided relaxation in publication of advertisements in newspapers as required under regulation 47 for all events till May 15, 2020.

Note:  there is no extension provided for intimation of Closing of Trading Window under SEBI (PIT), Regulations, 2015, listed entity shall submit latest by 31st March, 2020.

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04 Apr

Vaishali Verma
CS Vaishali Verma

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