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Limited relaxation from compliance with SEBI (LODR)

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Limited relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) (LODR) Regulations, 2015

  1. Regulation 58(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) provides that a listed entity shall send a hard copy of the statement containing the salient features of all the documents, as specified in Section 136 of Companies Act, 2013 and rules made thereunder to those holders of non-convertible securities who have not so registered.
  2. SEBI, vide Circular no. SEBI/HO/CFD/CMD1/CIR/P/2020/79 dated May 12, 2020, relaxed the aforesaid provisions pursuant to relaxations by the Ministry of Corporate Affairs (MCA) vide Circular dated May 5, 2020. Thereafter, further extensions were granted by SEBI pursuant to MCA relaxations vide:
    a)Circular no. SEBI/HO/DDHS/P/CIR/2022/613 dated January 15, 2021, till December 31, 2021;
    b)Circular no. SEBI/HO/DDHS/P/CIR/2022/0063 dated May 13, 2022 upto December 31, 2022 and
    c)Circular no.SEBI/HO/DDHS/RACPOD1/CIR/P/2023/003 dated September 30, 2023 upto September 30, 2023.
  3. MCA vide circular dated September 25, 2023, has, inter-alia, extended the relaxation from dispatching of physical copies of the financial statements (including Board’s report, Auditor’s report or other documents required to be attached therewith) upto September 30, 2024.
  4. Consequently, it has been decided to relax, up to September 30, 2024, the requirements of regulation 58 (1)(b) of the SEBI Listing Regulations.
  5. This Circular shall come into force with immediate effect.
  6. Stock Exchanges are advised to bring the provisions of this circular to the notice of all entities with listed non-convertible securities and disseminate on their websites.
  7. 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 Regulation 101 of theSEBIListing Regulations.

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