Relaxation from compliance with certain provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 for entities with listed Non-convertible Securities
Summary
SEBI grants a relaxation from compliance with Regulation 58(1)(b) of the Listing Regulations for entities with listed non-convertible securities. This exemption allows issuers to withhold hard copies of annual reports from debenture holders who have not registered their email addresses until December 31, 2022. The decision aligns with extended relaxations previously granted by the Ministry of Corporate Affairs regarding the dispatch of physical financial statements.
Text
relaxation up to December 31, 2022, from the requirements of Regulation 58 (1)(b) of the Listing Regulations which prescribes that an entity with listed non-convertible securities shall send a hard copy of statement containing the salient features of all the documents... to those holders of non-convertible securities who have not registered their email address(es)
This Circular shall come into force with immediate effect. The Stock Exchanges are advised to bring the provisions of this circular to the notice of all entities with listed non-convertible securities and disseminate on their websites.
The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 101 of the Listing Regulations.
Source: SecMarx — Relaxation from compliance with certain provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 for entities with listed Non-convertible Securities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.