SEBI (LODR) (Sixth Amendment) Regulations, 2022.
SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) LODR (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (SIXTH AMENDMENT) REGULATIONS, 2022
No. SEBI/LAD-NRO/GN/2022/103.—In exercise of the powers conferred by section 11, sub-section (2) of section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, namely: –
- These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Sixth Amendment) Regulations, 2022.
- They shall come into force on the date of their publication in the Official Gazette.3.In the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
“(1)in regulation 25,
(a)in sub-regulation (2A), the following provisos shall be inserted, namely, –
“Provided that where a special resolution for the appointment of an independent director fails to get the requisite majority of votes but the votes cast in favour of the resolution exceed the votes cast against the resolution and the votes cast by the public shareholders in favour of the resolution exceed the votes cast against the resolution, then the appointment of such an independent director shall be deemed to have been made under sub-regulation (2A): Provided further that an independent director appointed under the first proviso shall be removed only if the votes cast in favour of the resolution proposing the removal exceed the votes cast against the resolution and the votes cast by the public shareholders in favour of the resolution exceed the votes cast against the resolution.
”(2)in regulation 32, in sub-regulation (6) and in sub-regulation (7), the words “public or rights issue”shall be substituted with the words “public issue or rights issue or preferential issue or qualified institutions placement”.
(3)in regulation 52,
(a)in sub-regulation (1), (i)the following proviso shall be inserted before the existing proviso, namely, –“Provided that for the last quarter of the financial year, the listed entity shall submit un-audited or audited quarterly and year to date standalone financial results within sixty days from the end of the quarter to the recognised stock exchange(s):”
(ii)in the existing proviso,
A.after the word “provided” and before the words “that in case of entities which have listed”,the word “further” shall be inserted.
B.the words “the information is submitted to stock exchanges” shall be deleted.
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