SEBI further Relaxes LODR Regulations, 2015

Last updated: 27 March 2020

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The Securities and Exchange Board of India (SEBI) has announced further relaxations to the Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. These changes, aimed at easing compliance burdens, include extended deadlines for certain filings like the Practicing Company Secretary certificate and Annual General Meetings (AGMs). Additionally, relaxations have been provided for the conduct of committee meetings and the effective date for the Standard Operating Procedure on fines has been deferred. Exemptions are also in place for newspaper advertisement publications until May 15, 2020, due to challenges with print versions.

Securities and Exchange Board of India CIRCULAR SEBI/HO/CFD/CMD1/CIR/P/2020/48 March 26, 2020 To, All listed entities that have listed their specified securities All Recognized Stock Exchanges All Depositories Madam / Sir, Sub:Further relaxations from compliance with certain provisions of theSEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015(LODR) and theSEBI circular dated January 22, 2020 relating to Standard Operating Procedure due to the CoVID -19 v

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FAQ :

SEBI has extended deadlines for filings such as the Certificate from Practicing Company Secretary and AGM for top 100 listed entities. It has also relaxed the frequency for certain committee meetings and deferred the effective date for the Standard Operating Procedure on fines.

The due date for the Certificate from Practicing Company Secretary, which is usually within one month of the half-year end, has been extended by one month. For the half-year ending March 31, 2020, the extended due date is May 31, 2020.

For the financial year 2019-20, the top 100 listed entities by market capitalization have been granted a one-month extension to hold their AGM. The original due date was August 31, 2020, and the extended due date is September 30, 2020.

The Standard Operating Procedure circular, originally set to be effective for compliance periods ending on or after March 31, 2020, will now come into force for compliance periods ending on or after June 30, 2020.

Yes, SEBI has exempted listed entities from publishing advertisements in newspapers, as required by Regulation 47, for all events scheduled until May 15, 2020. This is due to challenges with print versions of newspapers.