Relaxation from compliance with certain provisions of the SEBI LODR Regulations, 2015 and certain SEBI Circulars due to the COVID-19 virus pandemic – continuation
Summary
This circular extends compliance timelines for listed entities issuing NCDs, NCRPS, CPs, and MDS due to the COVID-19 pandemic. It specifically relaxes deadlines for financial filings under SEBI LODR Regulations and ILDM Regulations for the half-year and financial year ending March 31, 2020. The relaxations are granted in exercise of powers under Section 11(1) of the SEBI Act, 1992.
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In order to enable issuers who intend/propose to list their NCD/NCRPS/CPs, it has been decided to grant the following relaxations in timelines: Cutoff date for issuance of NCDs/NCRPS/CPs is extended from September 30, 2019 to May 31, 2020, with a period of relaxation of 60 Days.
The timelines for certain filings as required under the provisions of the LODR and aforesaid circulars are extended, as follows: Large Corporate Initial Disclosure due June 30, 2020 (45 days relaxation); Annual Disclosure due June 30, 2020 (45 days relaxation).
Regulation 52 (1) and (2) relating to Financial Results: Half yearly results due June 30, 2020 (45 days relaxation); Annual Financial Results due June 30, 2020 (30 days relaxation).
Common obligations prescribed under Chapter-III of SEBI (LODR) Regulations, 2015 follow timelines as prescribed in SEBI Circular no. SEBI/HO/CD/CMD1/CIR/P/2020/38 dated March 19, 2020.
Financial Results for Commercial Papers (CPs): Half yearly results due June 30, 2020 (45 days relaxation); Annual Financial Results due June 30, 2020 (30 days relaxation).
The timelines for certain filings as required under the provisions of the ILDM Regulations and SEBI circular nos. CIR/IMD/DF1/ 60 /2017 dated June 19, 2017 and SEBI/HO/DDHS/CIR/P/134/2019 dated November 13, 2019 are extended, as follows: Investor Grievance Report due June 30, 2020 (45 Days relaxation); Financial Results due June 30, 2020 (30 Days relaxation); Accounts maintained by Issuers due June 30, 2020 (45 Days relaxation).
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 listed entities that have issued NCDs, NCRPS, MDS and CPs and also 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 regulations 101 and 102 of the LODR and Regulation 29 of ILDM Regulations the relaxations contained herein are subject to the provisions of the Companies Act, 2013 and rules made thereunder.
Source: SecMarx — Relaxation from compliance with certain provisions of the SEBI LODR Regulations, 2015 and certain SEBI Circulars due to the COVID-19 virus pandemic – continuation. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.