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· 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"

SEBI LODR Relaxations due to Lockdown 2.0

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.

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Category Corporate Law, Other Articles by - CS Lalit Rajput 



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