Format of compliance report on Corporate Governance
Format of compliance report on Corporate Governance by Listed Entities- SEBI CIRCULAR
1.As per the provisions of Regulation 27(2) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), a listed entity is required tosubmit a quarterly compliance report on corporate governance in the format specified by the Board from time to time to recognised Stock Exchange(s).
2.The format for compliance report on Corporate Governance by listed entities has been specified, as per the following annexures, vide Circular No. CIR/CFD/CMD/5/2015 dated September 24, 2015 and modified vide Circular No. SEBI/HO/CFD/CMD1/CIR/P/2019/78 dated July 16, 2019.
I. Annex -I-on quarterly basis;
II. Annex -II-at the end of a financial year
III. Annex -III-at the end of 6 months from the close of financial year.
3.In order to bring about transparency and to strengthen the disclosures around loans/ guarantees/comfort letters/ security providedby the listed entity, directly or indirectly topromoter/ promoter groupentities or any other entity controlled by them, it has beendecided to mandate such disclosures on a half yearly basis, in theCompliance Report on Corporate Governance.The format of disclosure in this regard is specified vide Annex -IVof the said report and shall be effective from financial year2021-22.
4. Accordingly the format for compliance report on Corporate Governance shall be as under:
I. Annex -I-on quarterly basis;
II. Annex -II-at the end of a financial year
III. Annex -III-at the end of 6 months from the close of financial year.
IV. Annex-IV-on a half yearly basis (w.e.f.first half year of the FY 21-22)
5. This circular supersedes the aforementioned SEBI Circulars dated September 24, 2015 and July 16, 2019.
6. The Stock Exchanges are advised to bring the provisions of this Circular to the notice of listed entities and also disseminate the same on their websites.
7.This 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 101of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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