Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and certain SEBI Circulars due to the CoVID -19 virus pandemic - Continuation

Last updated: 26 March 2020

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This circular from SEBI provides an extension for certain compliance deadlines for listed entities facing challenges due to the COVID-19 pandemic. It specifically addresses relaxations for Non-Convertible Debentures (NCDs), Non-Convertible Redeemable Preference Shares (NCRPS), Commercial Papers (CPs), and Municipal Debt Securities (MDS). The extensions apply to issuance and filing requirements, including financial results and disclosures, offering companies more time to meet regulatory obligations.

CIRCULAR SEBI/HO/DDHS/ON/P/2020/41 March 23, 2020 To, All listed entities/issuers who have listed/proposed to list NCDs/NCRPS/CPs/MDS All Recognized Stock Exchanges All Debenture Trustees All Registered Merchant Bankers Madam / Sir, Sub: Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and certain SEBI Circulars due to the CoVID -19 virus pandemic continuation 1. SEBI vide circular no. SEBI/H

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FAQ :

The circular grants relaxations and extends deadlines for certain compliance requirements for listed entities, specifically those who have listed or plan to list NCDs, NCRPS, CPs, and MDS, due to the COVID-19 pandemic.

The relaxations apply to Non-Convertible Debentures (NCDs), Non-Convertible Redeemable Preference Shares (NCRPS), Commercial Papers (CPs), and Municipal Debt Securities (MDS).

Yes, the cut-off date for the issuance of NCDs/NCRPS/CPs has been extended. Audited financials available as of September 30, 2019, can be used for issuance on or before May 31, 2020, a 60-day extension.

For NCDs/NCRPS, the deadline for half-yearly/yearly financial results (Regulation 52(1) and (2)) is extended to June 30, 2020. For CPs, annual financial results are extended to June 30, 2020. For MDS, annual financial results are also extended to June 30, 2020.

This circular comes into force with immediate effect.